Binance co-CEO Richard Teng on the company's 2025 annual report

Summary

Richard Teng, Binance co-CEO, discusses the company's 2025 annual report, highlighting 300 million users and its first global license from Abu Dhabi Global Market. He describes a long-term buy-and-hold approach to crypto and points to continued adoption and regulatory progress. Teng also discusses competition from traditional finance and DeFi, new regulated perpetual contracts on gold and silver, and says US deployment remains premature while Binance watches regulatory developments.

• Binance released its 2025 annual report and co-CEO Richard Teng joined Squawk Box.
• Binance has surpassed 300 million users and secured an Abu Dhabi Global Market global license.
• Teng takes a long-term buy-and-hold view on crypto, focusing on fundamentals over price.
• Competition is converging across Web2, Web3, traditional finance, banks, and DeFi.
• Binance launched a regulated perpetual contract settled in US dollar stablecoin, starting with gold and silver.
• Binance is not yet operating in the US; Teng says entry timing is premature and regulatory clarity is pending.
• Teng says the GENIUS Act and market-structure legislation are being watched.