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Highlights
- Binance CEO Richard Teng plans to achieve 1 billion users on the crypto exchange.
- Richard Teng believes digital assets and blockchain technological disruption is enough for billion users.
- He recommends buying crypto before it's too late.
Binance CEO Richard Teng on Monday revealed plans already in place to move towards achieving a milestone of billions of users as the world’s largest crypto exchange Binance reached a 200 million users landmark. Binance CEO gave credit to the new technological disruption with digital assets and blockchain.
Richard Teng on Binance’s 200 Million Users Milestone
In an official blog post on June 10, Binance CEO Richard Teng explained how Binance achieved the 200 million user count milestone. He believes the crypto exchange can reach even 1 billion registered users.
Richard Teng said the milestone is an achievement for the crypto community, making it even a significant milestone in the history of innovation. He explained that rise of blockchain and crypto adoption is the new technological disruption, with the transition from Web2 to Web3.
He compared the Industrial Revolution and Internet revolution to the blockchain and digital asset innovation. In fact, millions of people globally use digital assets to efficiently transfer value online, engage in decentralized finance (DeFi), and use smart contract-powered functionalities, from digital art to decentralized autonomous applications.
Binance grew from below 20 million to 200 million registered users in just four years from 2020-2024. The Bitcoin halving has also left a mark on people that technology is capable of impacting Bitcoin price and the market.
Digital assets are still in the early adoption phase witnessing adoption by innovators and risk-takers. Institutional investors and TradFi are yet adopt the blockchain and Web3 technologies.
Also Read: Binance Expands Support for LUNC, USTC, LUNA, SHIB Among Other Crypto
Binance CEO Recommends Buying Crypto
Binance CEO advises to buy crypto, saying “incumbents often dismissed new technologies and the insurgents advancing them, only to later recognize the innovations’ utility and value.”
Financial giants like BlackRock and Fidelity leading the recent spot Bitcoin ETF rush, the paradigm has changed and created a supply shock. This indicates the scope of investments in the industry. Companies have invested billions in spot Bitcoin ETFs and spot Ether ETFs next to witness massive buying.
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