In a recent interview with TheStreet Roundtable, Binance CEO Richard Teng described the SEC’s decision to drop its 2023 lawsuit against Binance as a “sea change” — a decisive pivot that could reinstate the U.S. as the epicenter of the global cryptocurrency industry.
Teng expressed gratitude toward SEC Chairman Paul Atkins and former President Donald Trump’s administration for their “thoughtful” and “considerate” approach to crypto regulation, emphasizing their choice to “support innovation instead of stifling it.”
Reflecting on the past four years of regulatory challenges, Teng called the SEC’s move a “big win not only for Binance as a company but for the entire crypto industry.”
Binance continues to monitor U.S. regulatory developments closely, particularly proposals like the Stablecoin Act and broader crypto frameworks. Teng explained, “While our current focus remains on global expansion, we are carefully evaluating future opportunities in the U.S. market.”
Under Teng’s leadership, Binance recently surpassed 275 million registered users, a milestone attributed to the platform’s clear mission and strong company culture. “From the start, Binance’s DNA has been centered on its users,” Teng said, highlighting innovations such as Binance Megadrop, Super Earn, Binance Square, and the new Binance Alpha 2.0.
Teng also stressed the company’s commitment to security and compliance, pointing out that many crypto platforms suffer breaches due to insufficient security investments. Binance has responded by implementing robust data encryption, multi-layered protections, and real-time monitoring.
To safeguard its community, Binance established the Secure Asset Fund for Users (SAFU), a $1 billion reserve designed to compensate customers in the event of a security breach — a safety net Teng notes few competitors provide.
Related Topics:
