Cryptocurrency exchange Binance has seen a 40% increase this year in institutional and corporate investors, CEO Richard Teng told CNBC’s Lin Lin.
Cryptocurrency exchange Binance has seen a 40% increase this year in institutional and corporate investors joining the platform, CEO Richard Teng told CNBC's Lin Lin.
Teng noted how Binance has pivoted from a founder-led company to one led by a board with seven directors — a structure he said that regulators are more used to. "So we on our own, we are seeing a huge uptick in terms of institutional and corporate investors. We have seen a 40% increase in onboarding in that category throughout the course of this year alone," he said. Teng did not name specific firms or share how large they were.Teng noted how Binance has pivoted from a founder-led company to one led by a board with seven directors — a structure he said that regulators are more used to.
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