Binance, the leading global cryptocurrency exchange, has seen a 40% rise in institutional and corporate investor onboarding this year, reflecting a shift in the crypto adoption among these major institutional players.
Binance CEO Richard Teng shared the exchange’s recent surge in an interview with CNBC’s Lin Lin at the Token2049 conference in Singapore on Wednesday.
The recent surge in institutional interest marks a significant milestone for the crypto industry, which is traditionally dominated by retail investors and crypto enthusiasts. “Allocation into crypto by institutions is just at the tip of the iceberg. It’s just beginning, because a lot of them are still doing their due diligence,” Teng explained, highlighting the nascent stage of institutional involvement in the crypto space.
Despite facing regulatory issues, including a $4.3 billion U.S. settlement in November 2023 and the departure of co-founder Changpeng…
