Crypto crisis comment from Binance CEO Teng:
It won't be long-term. Richard Teng, who became the CEO of Binance after Changpeng Zhao, said that he thought the declines in cryptocurrencies would not be long-term. Teng pointed to geopolitical activity and Fed interest rate cuts.
At Binance, which is considered the world's largest cryptocurrency exchange, CEO Richard Teng said that he did not think the declines would be long-lasting. Teng, who made a brief evaluation on the subject on X, used the following statements:
âThe sharp declines seen in the crypto and stock markets are due to macroeconomic factors. As the stock market, we do not think this is a long-term trend.
Possible interest rate cuts by the Fed and geopolitical volatility may continue to trigger market fluctuations. âAlways continue to do your own research, gain knowledge and produce.â
