March 25, 2025
By Anjali Kochhar
Binance CEO Richard Teng has expressed strong support for former U.S. President Donald Trump, calling his leadership beneficial for the cryptocurrency industry. Teng believes that Trump’s policies could lead to a more favourable regulatory environment, giving crypto businesses the clarity they have long sought.
Following Trump’s return to the political spotlight, the crypto market has responded positively. Bitcoin’s price surged nearly 10%, reaching an all-time high above $76,000. Investors and industry leaders see this as a sign of renewed optimism, anticipating regulatory changes that could foster institutional adoption and innovation.
Prominent figures in the crypto space, including venture capitalist Shervin Pishevar, have echoed similar sentiments, stating that the U.S. is now poised for a more balanced approach to digital assets. The industry has also been actively shaping the political landscape, contributing approximately $170 million to political campaigns in hopes of securing more crypto-friendly policies.
Despite the enthusiasm, challenges remain. U.S. regulators, particularly the Securities and Exchange Commission (SEC), have taken a strict stance on crypto firms in recent years, filing lawsuits against major players like Binance, Coinbase, and Ripple. Many in the industry hope that Trump’s administration will introduce officials with a more supportive outlook, reducing regulatory uncertainty.
Teng’s leadership at Binance comes at a crucial time, following the legal troubles that led to the resignation of former CEO Changpeng Zhao and a $4.3 billion settlement over regulatory violations. As Binance works to rebuild trust and expand its presence in the U.S., Teng is optimistic that the evolving political landscape will offer new opportunities for growth.
With Trump’s influence potentially reshaping U.S. crypto policy, the industry is closely watching how regulatory developments will unfold in the coming months.
About the author
Anjali Kochhar covers cryptocurrency and blockchain stories in India as well as globally. Having been in the field of media and journalism for over four years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
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