Binance CEO: Onboarding Next Billion

Richard Teng, the chief executive of Binance who replaced Changpeng Zhao (CZ) in November 2023, has taken to his account on the X platform (formerly known as Twitter) to share with the community the key directions Binance intends to follow in the near future.

Teng addressed his X followers, gaining their attention with three major things Binance plans to focus on this year.

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Onboarding next billion: Richard Teng

In his tweet, Teng spoke about the history of the crypto space development, starting with early adopters of Bitcoin and other crypto and then moving on to financial institutions, who are “validating” crypto companies like Binance and crypto assets as well: “Early adopters taught us. Institutions validate us.”

The “institutions validating us” part could also refer to the launch of spot Bitcoin and Ethereum ETFs at the beginning of 2024, as Wall Street companies like BlackRock have shifted from criticizing Bitcoin to accumulating it. The U.S. is building a Strategic Bitcoin Reserve; this is a great sign of crypto being “validated.”

Now that this is all happening, Teng continues, Binance intends to focus on three important things: “Simplifying complex tech. Supporting every user journey.” The third one is that they want to take on another billion users eager to embrace cryptocurrencies: “Onboarding the next billion.”

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He assured Binance users that no matter what troubles they face while learning about crypto, the platform will help them: “No matter where you are on the learning curve, we’re here for you.”