Binance CEO Praises Trump on Crypto Stance
Binance CEO Richard Teng has expressed strong support for the Trump administration’s approach to cryptocurrencies. He emphasized his focus on stablecoins, considering them to be the most effective tool for the swift expansion of the digital asset sector.
On Monday, Binance hosted its ‘2025 Binance Blockchain Study (BBS)’ in Seoul, where Teng attended and shared his insights.
When asked about the crypto policy of the Trump administration, Teng remarked that Binance “could be seen as a beneficiary.” He elaborated, “The Biden administration was pessimistic about crypto, but the Trump administration’s stance has completely shifted.”
Teng labeled this year as pivotal for the crypto market, highlighting the release of clear regulatory proposals, such as the Genius Act, along with the approval of spot crypto ETFs. He also pointed out that US publicly traded companies have started adopting crypto as a strategic reserve asset, a trend he anticipates will become increasingly pronounced.
Teng further disclosed that Binance is exploring various partnerships with the South Korean government. He stated, “We are discussing various partnerships with the Korean government.”
Teng views the Korean government’s recent crypto-friendly policy changes positively. He noted that he recognizes Korea “has a high crypto-holding ratio and is sensitive to technological trends.”
South Korea has moved away from its earlier strict regulatory stance, and recent conversations have intensified regarding the introduction of a won-backed stablecoin.
“It is natural for various institutions to partner on stablecoins. Binance has the advantage of a global network and a large user base, which would enable significant growth for a stablecoin through collaboration,” he mentioned.
He added that while discussions about partnerships with Korea are ongoing, he could not share additional details at this time.
Teng underscored the necessity for the active expansion of stablecoins, stating, “Only about 20% of the world’s population has smooth access to financial services. The other 80% face difficulties with international remittances, and stablecoins can solve this.”
He believes that traditional financial institutions are starting to appreciate their value, and the issuance and utilization of stablecoins are expected to grow steadily.
Regarding the short-term price outlook, Teng predicted that a possible interest rate cut in September would sustain the market’s upward trajectory.
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