Binance CEO Richard Teng Says Crypto Needs Two Elements To Witness Mass Adoption

Crypto’s Wild Ride: Will It Ever Be Tamed? 🤯

Richard Teng, the CEO of Binance, is a man on a mission. He’s convinced that crypto is the future of money and financial services, but he’s also aware that it’s a wild ride.

In an interview on The Wolf of All Streets YouTube channel, Teng laid out his vision for crypto’s future. “It needs two elements to come into play,” he said, “or it’ll be a never-ending rollercoaster of volatility.”

Firstly, Teng believes that regulatory clarity is key. “The early adopters are embracing it without a clue,” he quipped, “but for mass adoption to happen, people need to know that the regulators are watching, and they feel safe.”

And then, of course, there’s the matter of institutions. “Without them, it’s just a game of musical chairs,” Teng said with a chuckle. “The price action is going to be all over the place.”

But with institutions on board, Teng believes that the market will become more stable, and the price movement will become less volatile. “It’s like the difference between a wild mustang and a well-trained thoroughbred,” he joked.

Teng points to Standard Chartered’s recent move into stablecoins as a sign that institutions are starting to take crypto seriously. “It’s like a snowball rolling down a hill,” he said. “Once one big player jumps in, others will follow.”

And what about the haters, the ones who say crypto is a fad? Teng just shrugs. “They’re like the people who said the internet was a fad,” he said with a smile. “But we all know how that turned out.”

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2025-03-25 23:01