Binance CEO Richard Teng discusses growth, regulatory issues, and future goals in a live AMA to commemorate 200 million users. Top themes were token listings, crypto education, and AI integration.
Binance hosted a live AMA session with Richard Teng, the current CEO, in honor of its extraordinary achievement of 200 million users.
The event offered users the chance to interact directly with Teng and acquire knowledge about the platform’s ongoing developments and future plans.
The session, which was conducted under strict guidelines, explicitly refrained from discussing new tokens and price predictions to maintain a focus on broader strategic and operational topics.
Binance’s dedication to transparency and community engagement was evident in the live AMA, which effectively addressed a diverse array of user inquiries, despite these constraints.
Binance’s Growth Milestones and Regulatory Obstacles
Richard Teng initiated his remarks by conveying his appreciation to each user of the premier exchange Binance, recognizing their contribution to the achievement of this significant milestone.
He emphasized the platform’s rapid expansion, which has surpassed the previous milestone of 100 million users in just 26 months, a feat that required five years to accomplish.
Key inquiries that Teng addressed included the company’s future growth plans and regulatory issues, as well as strategies for addressing them.
Teng discussed the expansion of the BNB Chain, emphasizing that the team is perpetually seeking promising projects to incorporate.
He also confirmed his intention to enhance engagement on the platform that was previously known as Twitter, which is now known as X.
Furthermore, Teng responded to inquiries regarding the company’s digital transformation strategy and AI integration, asserting that the company has deliberated on the incorporation of AI and believes it is inevitable, whether in the context of customer service or marketing.
Notably, Teng addressed the issue with Nigeria, where several products, including the browser or desktop Binance site, P2P, and certain referral campaigns, are currently unavailable to Nigerian Binance users.
He declared that Nigeria is important to them and that they are interested in resolving the crisis and achieving a harmonious relationship with the Nigerian government.
Teng also addressed Tigran Gambaryan’s case dynamics, emphasizing the importance of his family’s reunion and the possibility of a positive resolution.
Following their FIU certification in India, Teng addressed concerns regarding the Binance app’s presence on App store and Playstore in India.
He stated that their team is currently in the process of establishing a presence in various Asian countries soon.
Token Listings, Crypto Education, and Future Growth
Teng commented on token listings, stating that they conduct a comprehensive assessment of each project, considering community engagement, use cases, and regulatory conformance when listing.
Additionally, he discussed the necessity of enhancing Binance’s presence in Africa and underscored the significance of offering crypto education, particularly regarding the regulations that govern the crypto industry in various countries.
He cited the recent example of Dubai, where they provided such education.
Teng concluded by highlighting the company’s rapid development, stating that it reached the 200 million user milestone in just 26 months, twice as fast as the previous 100 million user milestone, which took five years.
He expressed confidence in the potential for future expansion, aiming to reach 1 billion users in the near future.
