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Richard Teng—the CEO of the world’s leading crypto exchange Binance—hinted at the trading platform weighing a return to the United States.
Teng was asked if Binance would look for a way back into the United States or if it might consider launching its Binance USD (BUSD) stablecoin again during a recent Bloomberg interview. “Whether we re-enter the US market, I think that’s a premature discussion,” he said.
Binance has not responded to a request for comment from Decrypt.
The interview follows the reelection of former President Donald Trump in November, who now looks set to make the U.S. far more crypto-friendly. He has already announced a series of pro-crypto regulatory picks to the public.
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The vice president-elect, J.D. Vance, holds between $250,000 and $500,000 in Bitcoin, and the Department of Health and Human Services Secretary, Robert F. Kennedy Jr. said that he is “a huge supporter of Bitcoin.” Similarly, national security adviser Michael Waltz voted for pro-crypto bills and holds Bitcoin.
Teng also explained that Binance is largely focused on its “global deployment” and attracting institutions, sovereign wealth funds and wealthy individuals looking “to start allocating to this space.”
The interview follows Binance leaving the U.S. following a $4.3 billion settlement with the Department of Justice. The company was accused of sanctions violations, money laundering and operating as an unlicensed money transmitter.
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“I believe that compliance is the way to go,” Teng said. “Given that regulations are going to be much clearer throughout the world, we have the ability to invest very heavily in compliance. I want to make complete compliance a competitive advantage.”
Teng was previously Binance’s global head of regional markets, but took over as the exchange’s CEO in late 2023. At the time, the company’s co-founder and then-CEO Changpeng Zhao had agreed to step down and admitted to having violated United States money laundering laws.
Edited by Stacy Elliott.
