Crypto:
30604
Bitcoin:
$62.603
% 4.37
BTC Dominance:
%53.6
% 0.35
Market Cap:
$2.21 T
% 1.97
Fear & Greed:
33 / 100
Bitcoin:
$ 62.603
BTC Dominance:
% 53.6
Market Cap:
$2.21 T

Binance CEO: 2024 To Be a ‘Turning Point’ for Crypto, Citing 3 Reasons

Binance

Binance CEO Richard Teng says 2024 will be a ‘turning point’ for the crypto industry, citing increased regulatory clarity, more mainstream adoption, and the launch of Bitcoin exchange-traded funds (ETFs).

Teng made the remarks at the Binance Blockchain Week in Dubai, where he said that the industry has seen “significant progress” in recent years, but that 2024 will be a “pivotal year” for crypto.

He cited three key reasons for his optimism:

Increased regulatory clarity: Governments around the world are starting to provide more clear guidance on cryptocurrencies, which is helping to reduce uncertainty and attract institutional investors.

More mainstream adoption: More and more people are starting to use cryptocurrencies for everyday transactions, which is helping to drive demand.

The launch of Bitcoin ETFs: The launch of Bitcoin ETFs in the US has made it easier for investors to add Bitcoin to their portfolios, which is also helping to drive demand.

Teng also said that Binance is seeing strong growth, with its registered user base surpassing 200 million and its monthly active users growing by 12.5% from February to May. The value of customer assets on the exchange has also increased by $42 billion in 2024, thanks in part to rising prices.

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