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

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.