Binance CEO Richard Teng has strongly endorsed the Trump administration’s method to cryptocurrencies.
He famous that he focuses on stablecoins, believing they would be the finest device for quickly increasing the digital asset house.
Binance Advantages from Trump’s Coverage
On Monday, Binance held its ‘2025 Binance Blockchain Study (BBS)’ in Seoul, the place Teng attended and shared his view.
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When requested concerning the Trump administration’s crypto coverage, Teng recommended that Binance “could be seen as a beneficiary.” He defined, “The Biden administration was pessimistic about crypto, but the Trump administration’s stance has completely shifted.”
Teng referred to as it a pivotal yr for the crypto market, citing the discharge of clear regulatory proposals just like the Genius Act and the approval of spot crypto ETFs. He additionally famous that US publicly traded firms have begun adopting crypto as a strategic reserve asset, a pattern he expects to develop into extra pronounced.
Teng additionally revealed that Binance is discussing numerous partnerships with the South Korean authorities. He mentioned, “We are discussing various partnerships with the Korean government.”
Teng positively views the Korean authorities’s crypto-friendly coverage modifications. He provides that he understands Korea “has a high crypto-holding ratio and is sensitive to technological trends.”
South Korea has shifted from its beforehand strict regulatory stance, and up to date discussions have accelerated on introducing a won-backed stablecoin.
“It is natural for various institutions to partner on stablecoins. Binance has the advantage of a global network and a large user base, which would enable significant growth for a stablecoin through collaboration,” he mentioned.
He added that whereas partnership discussions with Korea are ongoing, he couldn’t disclose additional particulars.
Stablecoins as a Answer for Monetary Entry
Teng harassed the necessity for the lively enlargement of stablecoins, stating, “Only about 20% of the world’s population has smooth access to financial services. The other 80% face difficulties with international remittances, and stablecoins can solve this.”
He believes conventional monetary establishments are additionally starting to acknowledge their worth, and the issuance and use of stablecoins are anticipated to develop steadily.
Relating to the short-term value outlook, Teng predicted {that a} potential rate of interest lower in September would proceed the market’s upward pattern.
