đ„đ„ Binance CEO Richard Teng: "2024 is the Turning Point" â Hereâs Why
Richard Teng, CEO of Binance, asserts that 2024 will be a pivotal year for the crypto market. He highlighted the continued strong momentum in user growth.
đ„ Teng identified three key factors driving this shift:
Enhanced Legal Clarity: Legal clarity has improved, fostering wider mainstream acceptance.
Bitcoin ETFs: The introduction of Bitcoin exchange-traded funds (ETFs) marks a significant development.
Robust Growth: Both individuals and institutions are increasingly engaging with the industry.
đ„ Additionally, Teng forecasted a $42 billion increase in customer asset prices on Binance in 2024.
Binanceâs user base has surpassed 200 million, and monthly active users grew by 12.5% between February and May.
Regarding the $4 billion fine on the exchange, Teng explained that Sullivan & Cromwell and Forensic Risk Alliance would manage the companies appointed by Binance.
The location of Binance's headquarters is still under discussion, with negotiations ongoing with several countries.
đȘ âThe momentum remains very strong, and this is encouraging.
We see increasing participation from both individuals and institutions,â Teng concluded.
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