Binance CEO Discusses Bitcoin’s Institutional Shift and Challenges of US Return

On January 10, 2024, the US Securities and Exchange Commission approved the first 11 spot Bitcoin ETFs, allowing institutions such as BlackRock to gain Bitcoin exposure through regulated vehicles. Binance had previously paid more than $4.3 billion to settle with the US government in November 2023, making a return to the market an important test of its compliance-driven transformation.

The interview was recorded on June 29, 2026, and published on July 3. Richard Teng said Bitcoin had evolved from a retail asset into an institutional one. Binance also uses B-Stocks to provide exposure linked to US equities and round-the-clock trading. Teng said 80% of its users are from emerging markets, 25% are under 25 and 40% make transactions worth less than $100 each. A US return still depends on clear legislation and overcoming lobbying resistance from competitors.