Binance chief executive officer Richard Teng, during a conversation with media representatives at the World Economic Forum in Davos, Switzerland, said that in the current year, the crypto market will reach a new historic high amid positive regulatory changes in the United States after the inauguration of Donald Trump.
Mr. Teng stated that he sees much clear regulation happening in the US this year under the new Donald Trump administration, adding this will be supportive for crypto markets. He also noted that 2025 will be the year when a new historical maximum for the crypto industry will be recorded.
Bitcoin broke the $100,000 price milestone for the first time last year. The corresponding growth is associated with traders’ optimism about the prospects of the crypto industry under the administration of Donald Trump. On Tuesday, the token was trading near $104,000. Over the past 24 hours, this indicator has decreased by 3%.
Richard Teng stated the narrative around crypto has shifted quite drastically since last year. Also, the head of Binance noted he’s been hearing positive crypto sentiments expressed by political and corporate leaders since arriving in Davos.
Commenting on new legislation, Mr. Teng said that he expects to see progress in the United States on several fronts, including token issuance, trading, and asset management. He also noted Donald Trump isn’t the only key US political figure who is pro-crypto. According to him the House of Representatives and the Senate now are pro-crypto, compared to the past.
As we have reported earlier, Binance Sees $24B Customer Deposit Inflows in 2024.
