Binance CEO

Binance CEO: Despite Asia driving much of the growth in the financial system, Western companies will still be the main beneficiaries

ChainCatcher news, according to Fortune, Binance CEO Richard Teng stated at the Singapore Insights Forum that although Asia has driven much of the growth in the financial system, Western companies will still be the main beneficiaries. Teng pointed out that Western companies, with their scale and influence over regulatory frameworks, will dominate in seizing growth opportunities. He called on policymakers to ensure that local competitors have a fair chance and to allow for broader experimentation.According to a Deloitte report, digital wallet spending in the Asia-Pacific region reached $9.8 trillion in 2023, accounting for two-thirds of global total spending. Vincent Iswara, CEO of Indonesian mobile wallet company Dana, described the Asian payment sector as the "Wild West," lacking unified standards. The cautious attitude of regulators has driven the robust growth of e-wallets and digital banking in the Asia-Pacific region.Jessie Toh, Global CFO of Coda Payments, emphasized that mobile phones are key to financial inclusion and accessibility. She also noted that stablecoins are becoming increasingly popular in economies with currency volatility, providing users with tools to combat inflation and currency depreciation. Teng added that the growth of stablecoins outside the United States is driven by the demand from residents of low-income countries, with young consumers using them as a way to protect funds and for low-cost transfers. Stablecoins also enable countries to gradually move away from the U.S.-dominated financial system.

Binance CEO: Deeply relieved and grateful that Tigran Gambaryan has finally been released after being detained in Nigeria for nearly eight months

ChainCatcher news, Binance CEO Richard Teng posted on the X platform: "We are deeply relieved and grateful that Tigran Gambaryan has finally been released after being detained in Nigeria for nearly eight months. During this difficult time, Tigran has shown tremendous strength, and we commend his resilience in such severe adversity. We are very thankful to everyone who has dedicated countless hours to support Tigran's release. Tigran's health and well-being remain our top priority, and we are glad that he can now receive the urgent medical care and rest he needs with his family. Binance remains committed to working with global regulators to ensure compliance and transparency in the ever-evolving digital asset space. We look forward to putting this incident behind us and continuing our efforts to create a brighter future for the global blockchain industry. Nigeria has a young, tech-savvy population with a strong interest in digital finance, fully capable of leveraging blockchain technology to address economic and social challenges. We look forward to playing a constructive role in this endeavor."Previous news from yesterday, according to DL News, Nigerian prosecutors withdrew criminal charges against Binance executive Tigran Gambaryan on Wednesday; Tigran Gambaryan has been detained in the African country since February.
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