Binance CEO Richard Teng positively comments Trump crypto policy
Binance CEO Richard Teng says President Donald Trump’s pro-crypto policies are forcing global regulators to rethink their approach.
Speaking at CONVERGE LIVE in Singapore, Teng noted that the transition from Biden’s heavy-handed regulatory stance to Trump’s crypto-friendly agenda is already easing uncertainty in the market, reports Cryptopolitan.
“We have moved from a period of significant regulatory hostility to one where the world’s largest economy is embracing crypto,” Teng said. He highlighted that Trump’s recent executive order to create a U.S. crypto reserve—with assets including Bitcoin, Ether, XRP, Solana, and Cardano—signals a paradigm shift that may prompt other nations to reevaluate their digital asset strategies.
Market Reaction and Long-Term Vision
Following Trump’s announcement, crypto markets reacted swiftly. Bitcoin prices dropped as investors digested the news, while broader market sentiment was dampened by concerns over Trump’s new tariff policies. “The messaging is that the largest capital market in the world is now holding Bitcoin as part of its reserve,” Teng added, emphasizing that this shift will ultimately drive institutional adoption.
Teng downplayed the short-term price decline, calling it a transient reaction, and reiterated that the appointment of crypto-friendly lawmakers—such as Trump’s selection of David Sacks as crypto czar—will be a strong driver for long-term growth.
Contentious Industry Dynamics
In a twist, Binance founder Changpeng Zhao (CZ) has also been thrust into the spotlight amid reports linking him to discussions about a presidential pardon for past anti-money laundering violations. CZ dismissed these reports on X, claiming that they were motivated by an attack on Trump and the lingering “war on crypto” from the previous administration.
“No felon would mind a pardon, especially being the only one in U.S. history sentenced for a single BSA charge,” he quipped, clarifying that he has had no discussions regarding such a pardon. As regulatory and market forces evolve, industry leaders like Teng and CZ continue to navigate a complex landscape where policy shifts and market sentiment remain inextricably linked.
Recently we wrote, that representatives of President Donald Trump’s family reportedly held discussions with Binance in 2024 about acquiring a stake in the crypto exchange.
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