March 23, 2025 | CNBC Report
The CEO of Binance, the biggest cryptocurrency exchange in the world, Richard Teng, has referred to the return of Donald Trump’s government as a “golden opportunity” for the cryptocurrency sector, indicating a significant change in the regulatory landscape.
A Political Reset Benefiting Binance
Teng stated, “We are in a completely different environment now,” emphasizing that the company is benefiting from a political turning point in the United States. Over the past 16 months, Binance has transformed from being perceived as a regulatory problem in the U.S. to a key player in the financial ecosystem. This turnaround comes after Binance paid a record $4.3 billion fine and its founder, Changpeng “CZ” Zhao, stepped down.
Trump Ties and Speculation on Investments
Recently, Binance has been the subject of conjecture about potential ties to the Trump family. According to the Wall Street Journal, Binance and World Liberty Financial, a cryptocurrency bank associated with Trump, may sign a joint investment agreement to introduce a stablecoin that is tethered to the US dollar. Teng has clarified that Binance.com and Binance.US function independently with distinct stockholders and management to avoid regulatory entanglements, but he has neither acknowledged nor refuted these assertions.
“We’ve been through four years of what’s called Operation Choke Point 4, but now we have a president who is fully pro-crypto and AI,” Teng remarked, underscoring a shift in the regulatory landscape.
Rapid Growth and Global Expansion
Binance’s user base has surged from 170 million to 265 million in just a year. The company has forged partnerships with governments in Japan, Australia, Hong Kong, Brazil, Argentina, and the United Arab Emirates, securing operational licenses in 21 countries. Binance has also begun attracting sovereign wealth funds to invest in crypto, marking a strategic push into institutional finance.
Notwithstanding these achievements, the business has encountered numerous regulatory obstacles. In 2023, Binance paid significant fines to resolve several infractions with U.S. authorities, and its founder, CZ, received a brief prison sentence. A 60-day trial delay has been placed on an ongoing civil lawsuit with the U.S. Securities and Exchange Commission (SEC), which is still pending despite indications of a more relaxed regulatory stance under the new administration.
Governance and Compliance Overhaul
Acknowledging past shortcomings in governance, Teng highlighted Binance’s increased focus on compliance. The company now employs over 1,300 compliance professionals—nearly a quarter of its workforce—dedicated to regulatory adherence.
However, challenges persist in some regions. In Nigeria, Binance executives Tigran Gambaryan and Nadeem Anjarwalla faced criminal charges, with Anjarwalla managing to escape custody in early 2024. Gambaryan was later released, but the episode underscores the complexities of operating in diverse regulatory environments.
$2 Billion UAE Investment: A Crypto-AI Milestone
Binance recently secured a record-breaking $2 billion investment from the UAE sovereign wealth fund MGX—the largest single crypto deal to date, entirely transacted in stablecoins. Teng sees this investment as a crucial step in integrating cryptocurrency with artificial intelligence. “We are using AI extensively in customer service, security, and governance,” he noted.
With Trump’s pro-crypto stance and a significant capital infusion, Binance appears poised for an aggressive expansion, reinforcing its position as a dominant force in the evolving digital finance landscape.
