CEO Richard Teng’s remarks were made following Binance surpassing the 200 million user milestone.
Binance CEO Richard Teng recently told Cointelegraph that the cryptocurrency industry has transitioned from the era of “early adopters” to the epoch of the “early majority.”
Teng’s assertion came in response to a request for commentary from Cointelegraph concerning the company’s June 8 announcement that it had reached 200 million registered users worldwide—the highest among all cryptocurrency exchanges.
“We are deeply honored and humbled to have welcomed 200 million registered users and counting,” Teng wrote in an email, adding, “This achievement is an embodiment of the trust that the crypto community and industry players continue to have in the Binance ecosystem.”
The CEO attributed the company’s “swift growth” (its user count swelled from 100 to 200 million in just 26 months) to a changing landscape for the cryptocurrency industry.
“This milestone isn’t merely a triumph for Binance. It’s also a sign of robust growth and maturity for the broader crypto sector. … It reflects a transition from ‘early adopters’ of crypto to the ‘early majority,’ indicating that more and more of the global population are warming up to crypto and its limitless possibilities.”
Binance won’t be resting on its laurels anytime soon, as it remains on a mission to onboard one billion users. “Moving forward,” said Teng, “our focus at Binance remains on spearheading initiatives that promote financial inclusion and innovation.”
The road to one billion users won’t be easy. It will require nearly double the current number of cryptocurrency owners worldwide and the participation of one in every eight people on the planet.
Achieving this goal will also require political support from global regulators, especially in the U.S., where nearly 50 million crypto holders—around 10% of the global user base—are in regulatory limbo as the SEC and other government agencies consider the nation’s legal stance on various aspects of the cryptocurrency industry.
The upcoming presidential election could potentially clarify the situation, as presumptive Republican nominee Donald Trump has recently declared that, if elected, he intends to be the “crypto president.”
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