Binance CEO Reveals Bitcoin’s Next Big Move, Future Of Trading | Richard Teng

Richard Teng, co-CEO of Binance, provides insights into the cryptocurrency and fintech landscape in this 2026 interview. He confirms that while institutional adoption has significantly increased, he still believes the four-year Bitcoin cycle remains relevant due to mining costs and scarcity dynamics. Teng notes that Binance's user base has grown from 170 million to 320 million customers over two years, with increasing institutional and sovereign participation creating a more mature and less volatile market.

A major focus is Binance's evolution into a financial super-app offering far beyond cryptocurrency. The platform now provides access to stocks, ETFs, tokenized assets, private market opportunities (such as SpaceX pre-IPO trading), and commodities. Notably, Binance accounts for 60% of SpaceX pre-IPO perpetual trading and achieved nearly $6 billion in trading volume on SpaceX's first trading day. The company recently launched BTOs (Binance Tokenized Offerings), which are one-to-one backed tokenized securities trading 24/7, with approximately 50% of trading occurring outside US market hours.

Teng emphasizes the transformative potential of blockchain and AI convergence, particularly in financial infrastructure. He highlights how tokenized assets enable 24/7 trading, atomic settlement, and enhanced liquidity compared to traditional 9-to-5 markets. The company has accumulated $800 million AUM in its stocks offering within a month, with 80% of stock traders from emerging markets and many under 25 years old, indicating Binance's role in providing financial access to previously excluded populations.

On regulation, Teng addresses the significant EU setback where Binance withdrew its Mika license application from Greece after initially receiving indication of approval. He emphasizes Binance is not leaving Europe and is pursuing authorization with other EU member states. He argues that wise regulators should license compliant crypto companies to maintain oversight rather than forcing them to operate in gray zones. Teng notes Binance spends 25% of revenue on compliance and is the only global exchange with a home regulator through Abu Dhabi's ADGM authority.

Regarding US re-entry, Teng indicates the company is awaiting the Clarity Act to provide regulatory framework clarity, noting that diverse federal-state regulatory interpretation creates complexity. He acknowledges lobbying against Binance's US entry from existing players who would face fee compression competition.

On allegations regarding Iran sanctions evasion, Teng states that Binance has pursued lawsuits against publications making these claims and works closely with law enforcement. He argues the allegations are unfounded, pointing out that after tracking fund flows across multiple hops to other platforms, Binance cannot be directly responsible for what happens with funds once they leave the platform. He notes illicit exposure has dropped 97% from early 2024 to mid-2025.

Teng concludes by discussing Singapore's transformation from an agricultural society to a global financial center, attributing success to long-term strategic planning, stable leadership, favorable monetary policy management through managed floating exchange rates, and deliberate ecosystem development including international schools, parks, and major financial institution recruitment.