Binance now going on the largest cryptocurrency exchanges, experienced a 40% increase in institutional and corporate investors in 2024, according to CEO Richard Teng. This significant growth underscores how institutional players are warming up to Bitcoin and other cryptocurrencies despite Binance facing regulatory challenges, including a U.S. probe and a $4.3 billion settlement.

Teng, who became CEO in November 2023, highlighted the company's transition from a founder-led organization to one governed by a seven-member board, a structure more in line with regulatory expectations. Speaking at the Token2049 conference in Singapore, Teng noted that institutional allocation to crypto is still in its early stages, with many investors continuing their due diligence before diving deeper into the market.

This rise in institutional interest signals growing confidence in the crypto space, potentially driving further adoption of digital assets across the frofit and lost$BTC