🔥💥 Binance CEO Richard Teng: "2024 is the Turning Point" – Here’s 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.

🔥 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.

💥 Additionally, Teng forecasted a $42 billion increase in customer asset prices on Binance in 2024.

Binance’s 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.

💪 “The momentum remains very strong, and this is encouraging.

We see increasing participation from both individuals and institutions,” Teng concluded.

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