Quantcast
CRYPTO NEWS AROUND THE GLOBE
EU crypto AML authority to establish HQ in Frankfurt
Government Leaders and Industry Titans Set to Discuss MICA Law at Crypto Expo Europe 2024 | CoinCodex
The EU Inches Closer to the Digital Euro — Will Stablecoins and Crypto Take a Back Seat?
CME Group to Launch Micro Euro-denominated Bitcoin and Ether Futures on March 18
FTX affair: are SBF’s lawyers complicit?
Bruno Le Maire announces a new savings plan of 10 billion euros – Who will be affected by the cuts?
Bitcoin spot ETF inflows increase amid net outflows for gold-backed funds
CRYPTO MONEY LAUNDERING COLLAPSED BY 30% IN 2023 (CHAINALYSIS)
Can Bitcoin become legal tender in Europe? One German MP thinks so
Binance Leveraged Tokens: End Clap For Leveraged Tokens On Binance
9dcc Unveils Revolutionary NFC-Integrated Luxury Fashion Line at NFT Paris and Paris Fashion Week
How European regulators are jockeying to attract crypto ventures before MiCA goes live
How to protect yourself from crypto scams? Exclusive interview with the Global Head of Binance Investigations
Crypto exchange Coinbase finally returns to profitability
The total capitalization of cryptocurrencies now exceeds $2,000 billion
Telefónica teams up with Chainlink to fight crypto hacks
France: D-14 for Blockevent, the crypto and AI conference that focuses on innovation experts
Fidelity Cuts Fee on European Bitcoin ETFs
Isle of Man contemplates including crypto under ‘investment’ definition
Europe’s Progressive Crypto Regulations and Algotech’s Trading Platform: A Perspective
Will Europe ban Bitcoin mining?
How to mine without hardware in 2024?
Bitcoin integrates the top 10 of the largest global assets by 2024
Cryptocurrencies: Bitget’s Growth Breaks New Record
Entries on crypto products exceed $1 billion again - Coins.fr
Bitcoin price tops $50,000 after spot ETF launches spur demand
Can Torrevieja become Europe’s first crypto-friendly city?
Super Bowl: cryptocurrencies will be absent from advertisements once again – Kraken gives its opinion
Binance Remains the Undisputed Leader in the Crypto Sector
Binance to offer a minimum of $10,000 to anyone who reports corrupt employees
All Crypto News Around The Globe

Binance CEO: 'Crypto is still at a very early stage of adoption'

Web3/Crypto
Webp richard teng
Richard Teng, CEO of Binance | Crypto Republique

Richard Teng, CEO of Binance, said that cryptocurrency is in the "early stage of adoption" globally, although major institutions are beginning to embrace blockchain and crypto agendas. Teng made his remarks during the opening speech of Binance Blockchain Week.

"Crypto is still at a very early stage of adoption, less than 10% globally," said Teng. "We are at the beginning of the journey. The institutions are now coming too. If you look at all the top 200 institutions around the world, everybody has a blockchain crypto agenda."

According to a report by Financial News London, in the first quarter of 2024, major hedge funds significantly increased their cryptocurrency holdings. For instance, Millennium Management invested approximately $2 billion in spot Bitcoin Exchange-Traded Funds (ETFs), while Schonfeld allocated around $500 million.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

The report further indicates that over 50% of top U.S. hedge funds now own Bitcoin ETFs, reflecting a growing institutional confidence in crypto assets.

A separate report by Reuters states that as of October 1, 2024, the total cryptocurrency market capitalization reached $2.2 trillion, marking a substantial increase from $8.3 billion at the start of 2023.

Teng has been CEO of Binance since November 2023 and brings over 30 years of experience in financial services and regulation. Since joining Binance in August 2021, he has advanced the company's growth with a focus on compliance. Previously, he was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), Chief Regulatory Officer at Singapore Exchange (SGX), and Director of Corporate Finance at the Monetary Authority of Singapore.

Binance operates as a major global blockchain platform featuring the largest digital asset exchange by trading volume. The company offers a wide range of financial products and services and is known for its comprehensive ecosystem, which includes educational resources, research initiatives, charitable activities, and an NFT marketplace. According to its website, Binance supports users around the clock in 40 languages and prioritizes security and regulatory compliance to protect its users and contribute to the growth of the blockchain industry.

Organizations Included in this History
Binance
More News

UK’s stringent crypto regulations spark debate as exchanges struggle to gain FCA approval

The UK cryptocurrency market continues to pose challenges for exchanges as they adapt to stricter regulatory requirements. Cryptocurrency exchange Bitget recently relaunched its UK platform after halting services in May 2024 to comply with the UK Financial Conduct Authority’s (FCA) Financial Promotions regime. This relaunch reflects Bitget’s efforts to align with the FCA’s evolving standards, aimed at enhancing consumer protection in the digital asset space.

Nov 24, 2024

Italy backtracks on crypto tax hike amid investor pushback

The Italian government recently announced a plan to increase the capital gains tax on bitcoin and other cryptocurrencies from 26% to 42%. This proposal, part of broader fiscal measures to support election pledges and reduce Italy’s fiscal deficit, has raised concerns among cryptocurrency investors and industry leaders.

Nov 24, 2024

European banking authority issues new guidelines for crypto providers to comply with restrictive measures

On November 14, the European Banking Authority (EBA) released comprehensive guidelines for Payment Service Providers (PSPs) and Crypto-Asset Service Providers (CASPs) to ensure alignment with European Union (EU) and national restrictive measures. These guidelines aim to reduce risks and strengthen compliance when transferring funds or crypto assets.

Nov 22, 2024

New crypto regulations aim to keep startups from 'sailing away' to the U.S.

The UK government is set to introduce new cryptocurrency regulations aimed at countering the growing appeal of the United States as a destination for crypto businesses. In response to concerns of regulatory delays following Brexit, the legislation focuses on establishing a clearer framework for stablecoins and staking activities, with the goal of strengthening the UK’s position as a global hub for digital assets.

Nov 22, 2024

OpenAI chooses Paris as its new home base

OpenAI, the world’s largest artificial intelligence company, has announced it will establish a new base in Paris.

Nov 20, 2024

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

On October 30, UK Chancellor Rachel Reeves announced a capital gains tax (CGT) rate increase for high-income individuals, raising it to 24%. This change has raised concerns in the cryptocurrency community, where some investors fear that increased tax and regulatory pressures will diminish the UK's appeal for digital asset investment.

Nov 20, 2024

Crypto Comments
Loading...

No comments available.

Trending
1

Crypto investors sound alarm on UK’s capital gains tax hike and regulatory pressure

2

UK’s digital assets bill brings much-needed clarity to digital asset regulation

3

New crypto regulations aim to keep startups from 'sailing away' to the U.S.

4

OpenAI chooses Paris as its new home base

5

European banking authority issues new guidelines for crypto providers to comply with restrictive measures