In his Ramadan commemoration speech to Binance users, Richard Teng, the CEO of Binance, presented an optimistic perspective on the current state of the crypto industry. Pointing to the market's bullish behavior, Teng noted the recent influx of institutional investors and cryptocurrency newcomers, largely spurred on by the process of regulation gaining approval.
"We're looking at a rapidly warming market with Bitcoin and other digital assets outperforming the USD and gold," stated Teng. He credited this significant shift largely to regulatory clarity that has brought in fresh institutional inflows.
Teng also highlighted Binance's recent initiatives that lend support to users, such as the introduction of a Web3 wallet, contributing to the blossoming performance of the crypto industry.
