Binance CEO Richard Teng expressed optimism about US President Donald Trump’s “pro-crypto” legislation, saying it may prompt global regulators to adopt similar measures.
Speaking at the CONVERGE LIVE event in Singapore, Teng stated that under Trump’s administration, “the momentum is building, institutional and retail adoption of crypto assets is immense.” He added that this shift in attitude from regulatory uncertainty to embracing crypto has created a favorable environment for the industry.
Teng also noted that the US president’s executive order to establish a strategic reserve of cryptocurrencies could lead to increased adoption globally. The CEO described this development as a “landmark” issue, highlighting the potential impact on other governments considering similar allocations.
HashKey Capital CEO Chao Deng shared Teng’s sentiments, stating that under Trump, “the momentum is building.” He emphasized that institutional and retail adoption are growing, citing the importance of banking services for crypto companies in the US.
The industry has faced significant regulatory challenges under previous administrations. However, with the current administration, there is a return to more supportive regulations. Teng downplayed recent market fluctuations, viewing them as a “tactical retreat” rather than a major setback. He highlighted the long-term benefits of Trump’s policies and appointments, including his nomination of crypto-friendly legislators.
The US president has also taken steps to encourage banking services for crypto companies. HashKey Capital’s Deng sees this development as crucial for the industry’s growth, allowing banks to feel more comfortable working with crypto-related clients.
Source: https://www.cnbc.com/2025/03/13/trump-could-be-a-catalyst-for-a-global-pro-crypto-shift-binance-ceo-says.html