
Trump and Crypto: Binance CEO Predicts a Global Pro-Crypto Shift
On March 13, 2025, Richard Teng, the CEO of Binanc, the world’s largest cryptocurrency exchange, expressed his belief that US President Donald Trump could be a catalyst for a global shift towards being more pro-crypto, potentially marking the beginning of a “golden era” for digital assets. This statement, made in a recent interview, reflects the crypto industry’s hope for a more favorable regulatory environment under Trump’s administration, which has been in office for about two months as of this date.
Teng’s remarks were highlighted in several news outlets, including an interview with Bloomberg on February 19, 2025, where he stated, “The year ended with the election of a pro-crypto president, President Trump, and that gave good optimism into this space. And I predict it’s going to be the start of the golden era of crypto.” This optimism is rooted in the context of Trump’s recent election and inauguration on January 20, 2025, which has been seen as a turning point for the crypto industry, especially after facing regulatory challenges under the previous administration led by Joe Biden.
The crypto industry has faced significant scrutiny in the US, with high-profile lawsuits and fines against major exchanges like Binanc, Coinbase Inc., and Ripple LLC, often described as “regulation by enforcement,” as noted in Bloomberg. Teng’s comments suggest a potential “reset and restart” for the industry, driven by Trump’s perceived business-friendly policies, which could include clearer regulatory guidelines and tax benefits.
During the interview, Teng emphasized the growth of Binanc’s user base, noting that the platform started the year with 170 million users and ended with over 240 million, adding 70 million users in the course of the year, as reported by Daily Hodl. He also highlighted that institutional users more than doubled in the past year, indicating strong interest from traditional financial sectors in cryptocurrencies. This growth is seen as a precursor to further expansion under a pro-crypto administration, with Teng predicting increased adoption by financial institutions and governments globally.
Teng’s vision is that Trump’s leadership could lead to policies that make it easier for businesses and individuals to engage with cryptocurrencies, potentially including tax benefits and streamlined regulations. This is particularly significant given the industry’s call for clarity, as evidenced by reports like MITRADE, where Teng expressed reservations about previous regulatory restrictions and emphasized the need for a conducive environment for players like Binanc.
Unexpected Detail: Previous Term’s Restrictive Policies
While Teng’s optimism is notable, it’s worth noting an unexpected detail: during Trump’s previous term from 2017 to 2021, his administration did not implement explicitly pro-crypto policies. Actions like the IRS treating crypto as property for tax purposes, which complicated tax reporting for investors, were seen as restrictive by some in the industry, as mentioned in Coinpedia. This creates a contrast with the current optimism, suggesting that the industry’s expectations might be based on perceived shifts rather than established actions.
For the crypto industry, Teng’s remarks could signal a new dawn, encouraging more companies to invest in digital assets and potentially attracting more users and investors. The expected pro-crypto shift under Trump could lead to increased institutional adoption, as seen in Binanc’s doubling of institutional users, and foster innovation in the sector. However, the actual impact depends on Trump’s administration’s policies, which are yet to be clearly defined, as noted in BitcoinEthereumNews.
This optimism is part of a broader trend, with companies like MicroStrategy adopting aggressive Bitcoin buying strategies, as mentioned in CoinTelegraph, and could influence global regulatory approaches. However, critics argue that the industry’s enthusiasm might be premature, given the lack of concrete policy announcements, creating a debate within the community about the realism of Teng’s predictions.
Globally, countries like El Salvador have made Bitcoin legal tender, and the US under Trump is seen as potentially following a more lenient path compared to the previous administration’s crackdown, as reported in Cryptopolitan. Russia’s recent moves to allow qualified investors to trade crypto also reflect a trend towards integration, but with stricter controls, contrasting with the US’s potential openness under Trump.
For consumers, a pro-crypto shift could mean easier access to digital assets, potentially lower transaction costs, and increased acceptance by financial institutions. For the industry, it could mean reduced regulatory hurdles, encouraging innovation and growth, but also raising questions about compliance and security, given past issues with exchanges like Binanc, as noted in CoinTelegraph.
Table: Key Details of Teng’s Statement on Trump and Crypto
Aspect | Details |
---|---|
Speaker | Richard Teng, CEO of Binanc |
Date of Statement | February 19, 2025, reported as recent |
Context | Interview with Bloomberg and other outlets |
Key Prediction | Trump could mark “golden era of crypto” |
Expected Policies | Clearer regulations, tax benefits |
Binanc User Growth | Added 70M users, now over 240M, institutional users doubled |
Previous Trump Term | Had restrictive policies, e.g., IRS crypto tax rules |
Current Status | Optimism, but policies yet to be defined |
Key Citations
- President Trump Marking the ‘Golden Era of Crypto,’ According to Binance CEO Richard Teng
- Binance CEO Teng Sees ‘Fresh Reset’ for Crypto in New US Regime
- Binance CEO Teng envisions a new dawn for crypto in the Trump administration
- Binance CEO Reveals How Trump’s Crypto Policies Are Triggering a Market Frenzy
- President Trump Marking the ‘Golden Era of Crypto,’ According to Binance CEO Richard Teng
- Binance boss Richard Teng says re-entering US market a ‘premature discussion’
- Binance CEO Teng envisions a new dawn for crypto in the Trump administration
- Binance CEO Teng envisions a new dawn for crypto in the Trump administration