Binance CEO Richard Teng: Crypto Industry Enters ‘Early Majority’ Era as User Base Hits 200 Million

Binance CEO Richard Teng: Crypto Industry Enters ‘Early Majority’ Era as User Base Hits 200 Million

Binance CEO Richard Teng recently conveyed to Cointelegraph that the cryptocurrency industry has shifted from the era of “early adopters” to the epoch of the “early majority.”

Teng’s statement came in response to Cointelegraph’s inquiry following Binance’s announcement on June 8 that it had surpassed 200 million registered users globally — the highest number among cryptocurrency exchanges.

“We are profoundly honored and humbled to have welcomed 200 million registered users and counting,” Teng stated in an email. “This milestone reflects the ongoing trust the crypto community and industry stakeholders place in the Binance ecosystem.”

He attributed Binance’s rapid growth (doubling its user base from 100 million to 200 million in just 26 months) to the evolving landscape of the cryptocurrency industry:

“This achievement is not just a triumph for Binance. It signifies robust growth and maturation for the broader crypto sector. It marks a shift from the ‘early adopters’ of crypto to the ‘early majority,’ indicating that an increasing number of people worldwide are embracing crypto and its limitless potential.”

However, Binance is not complacent. The company aims to onboard one billion users. “Looking ahead,” Teng said, “our focus at Binance remains on leading initiatives that promote financial inclusion and innovation.”

Achieving the goal of one billion users will be challenging. It will require nearly doubling the current number of cryptocurrency owners worldwide and gaining the participation of one in every eight people globally.

Additionally, political support from international regulators will be crucial, particularly in the U.S., where about 50 million crypto holders — approximately 10% of the global user base — are in regulatory limbo as the SEC and other agencies determine the nation’s legal stance on various aspects of the cryptocurrency industry.

The upcoming presidential election might provide some clarity, as presumptive Republican nominee Donald Trump has recently declared himself, if elected, to be the “crypto president.”