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After the agreement in November, the CEO of the Binance exchange, CZ, had handed over his duties to Richard. The new CEO published a blog post containing some statements while this article was being prepared. One of the significant events that fueled optimism for the year 2024 is the substantial resolution of issues between the Binance exchange and the US. This event positively affected all cryptocurrencies.
Statements from the Binance CEO
In his first year-end review, Teng spoke about the settlement reached with the US and the optimism he felt about it. Reports by Bloomberg and others about investigations and impending lawsuits had negatively affected the markets for a long time. Now, investors are looking forward to the next year with hope, away from all that fear and panic.
“Now that we have reached a resolution with regulatory agencies in the US, the fog has cleared. Binance has the culture, talent, and expertise to be a genuinely compliance-focused organization, in addition to being user-centric,” said the new CEO.
The new CEO pointed out that this effort has been appreciated and accepted by users, drawing attention to the exchange’s inflows.
“The past few weeks have shown that this assessment is not just talk, and our users trust us and our vision for the future. After the announcement of the US decisions, net inflows were very strong, and new users continued to arrive steadily. By the end of December, we surpassed 170 million registered users, marking a 30% increase compared to last year. Actions speak louder than words.”
The Future of Cryptocurrencies
Richard, after mentioning the steps taken in the Web3 space throughout the year, wrote that they would continue their efforts in this area. He also highlighted that the SAFU customer protection fund reached $1.2 billion by the end of the year. His comments about the future began as follows;
“We have many reasons to start the new year with high morale. Binance is entering its new era with a strong financial position and the trust of our rapidly expanding amazing global community. This organization was built to last not just for years, but for decades.
As we move forward, we will maintain our commitment to three key groups. First and foremost, our users, who are our most important stakeholders. Secondly, our relationships with global regulators. And lastly, our effort to expand industry partnerships.
I am eager to achieve even more with all of you in 2024 and beyond.”
