The crypto market will see a new all-time high in 2025 on the back of positive regulatory moves in the United States under newly inaugurated President Donald Trump, Binance CEO said on Tuesday.
Richard Teng, who took the reins from former Binance boss Changpeng Zhao last year, told CNBC’s Arjun Kharpal that he sees “much clearer regulation” in the U.S. this year under the new administration Trump, adding that this will be favorable for crypto markets.
“If you look at past cycles, this year will be a year that we see a new all-time high for the crypto industry,” Teng said in a fireside chat at the World Economic Forum in Davos, in Switzerland.
Bitcoin passed the $100,000 milestone for the first time last year, as traders grew optimistic about the crypto industry’s prospects under a Trump administration. As of Tuesday, the token was trading near $104,000, according to Coingecko, down 3% over the past 24 hours amid a broad collapse in crypto markets.
“The narrative (around crypto) has changed quite dramatically” since last year, Teng added, noting that he has been hearing positive crypto sentiments expressed by political and business leaders since arriving in Davos .
Regarding the new legislation, Teng said he expects to see progress in the United States on several fronts, including token issuance, trading and asset management.
Trump is not the only key US political figure who is “pro-Crypto,” Teng said, adding: “The House of Representatives and the Senate now (are) pro-Crypto, compared to the past.”
“So legislation will be passed, you have pro-Crypto regulators appointed to key commissioner roles in the SEC and CFTC,” the Binance CEO said.
Trump chose respected Washington lawyer Paul Atkins to lead the Securities and Exchange Commission, which has already been aggressive in its approach to enforcing the crypto industry
Teng also expects Trump to give the crypto sector “certainty” and “recognition”, as well as establish a US strategic Bitcoin reserve – something the current president suggested he would do during his campaign .
Clarification: The text and title of this story have been clarified to reflect that Binance CEO Richard Teng said the crypto market will hit a new all-time high in 2025.
