In a recent interview conducted in Chinese, Binance’s new CEO, Richard Teng, addressed several topics relevant to the cryptocurrency market. Teng, who took over the leadership of the world’s largest cryptocurrency exchange by trading volume, shared his views on important issues. He spoke from regulatory concerns in the US to the future of the cryptocurrency industry.
One of the central questions of the interview was the ongoing case with the US Securities and Exchange Commission (SEC) that accuses Binance of offering unregistered securities to US investors. Teng expressed confidence that the company is in a strong position to handle this situation, highlighting the strength of its legal team and Binance’s commitment to fully cooperating with regulators to resolve the concerns raised.
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Teng highlights the potential of community-developed “Subscription” altcoins
Another point addressed by Teng was the recent trend of “Inscriptions” (or “Solana Rugs”), altcoins that have caused congestion on the Bitcoin network. He emphasized the potential of these altcoins to be developed by the community, without the need for venture capital firms. Teng also acknowledged that Binance’s BN Wallet service had a poor user experience and indicated that improvements are on the way.
Additionally, the new CEO announced ambitious plans for Binance Labs, stating that the company will increase the strength of its incubation program tenfold. This will include providing additional funding, resources and guidance to selected projects. In this way, Binance demonstrates its ongoing commitment to supporting the development of new projects in the cryptocurrency industry.
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Binance Labs plans to expand its incubation program to support even more projects
Teng also addressed the issue of going public, clarifying that Binance has no immediate plans to do so. Its rival Coinbase, which has already carried out an initial public offering (IPO). He criticized some founders in the cryptocurrency industry for not having a long-term vision and for spending their profits on luxury purchases such as villas.
In summary, Richard Teng’s interview provided valuable insights into Binance’s vision and priorities under its new leadership. While the company faces regulatory challenges in the US, its confidence in dealing with these issues and its commitment to developing the cryptocurrency industry remain evident. The crypto community now eagerly awaits upcoming updates and developments on Binance under the guidance of Richard Teng.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/binance-richard-teng-comenta-sobre-o-mercado-de-criptomoedas-em-entrevista-na-china/
