Although he acknowledged that the Trump administration’s crypto-friendly policies are a positive sign for global crypto adoption, he emphasized that the exchange’s priority is global expansion.

In an interview with Bloomberg TV on December 9, Teng answered the question of whether Binance has plans to return to the US market after the election of Donald Trump as president and the reshaping of the USA with a crypto-friendly administration.

Teng: “Would we go back to the US market? This is too early to talk about right now. “We are currently focusing on our global expansion, we are growing very quickly and we are very pleased with the progress we are making,” he said.

However, Teng said the crypto-friendly approach in the US could contribute to broader crypto adoption around the world.

He also called 2024 a “turning point” for the crypto industry, highlighting Bitcoin surpassing $100,000 and the approval of a number of exchange-traded funds (ETFs) for Bitcoin, Ethereum, and Solana as significant developments.

Teng praised the Trump administration’s strategic moves towards artificial intelligence (AI) and crypto fields, saying:

“We now have a crypto-friendly President in the USA and a very smart strategy is being implemented in this area. Appointing a steward for AI and Crypto is crucial to ensuring that these two technologies represent the most innovative areas of the future. “Other countries will also be very successful by focusing on these areas.”

Teng predicted that not only countries, but also sovereign wealth funds, institutions, government foundations, and high-net-worth individuals will begin allocating funds to crypto. He stated that this trend will accelerate after the USA announced its strategic Bitcoin reserve plan and Brazil’s Bitcoin reserve bill.

Binance suspended all its operations in the US market in November 2023 to resolve violations related to money laundering and unlicensed money transfer operations as part of a $4.3 billion settlement with the US government.

Although Teng did not make a definitive statement about Binance’s plans to return to the US, he hinted that the Trump administration’s crypto-friendly policies could pave the way for a change in this regard in the future.

However, he re-emphasized that Binance’s priority right now is global expansion and stated that they are satisfied with the growth they have achieved in different parts of the world.

Pointing out that 2024 is a historic year for the crypto industry, Teng predicted that many countries and organizations will increase their fund allocation towards crypto, which will accelerate global adoption.

This may contribute to the crypto industry gaining wider acceptance in the global arena and having a more solid infrastructure.