Binance CEO Richard Teng asserts that the exchange is aiding countries in developing Bitcoin reserves and cryptocurrency policies, influenced by President Trump’s supportive stance towards digital assets. Countries like Pakistan and Kyrgyzstan have expressed interest in partnering with Binance, while Teng plans to establish a global headquarters for the exchange. Additionally, Trump’s introduction of a Strategic Bitcoin Reserve aligns with evolving U.S. regulations on cryptocurrency management.
Binance, under CEO Richard Teng’s leadership, is actively supporting various countries in establishing and managing their Bitcoin reserves, as well as formulating effective cryptocurrency policies. This support follows U.S. President Donald Trump’s renewed endorsement of cryptocurrencies, which has spurred interest among global governments to embrace digital assets more thoroughly.
In an interview with the Financial Times, Teng noted that Trump’s pro-crypto position has encouraged other nations to adopt similar approaches. While he refrained from disclosing specifics, he confirmed that Binance is in discussions with multiple governments regarding crypto policies and asset reserves.
Notably, recent announcements from Pakistan and Kyrgyzstan indicate their intent to collaborate with Binance for developing their crypto frameworks, although they have not confirmed plans for holding Bitcoin reserves. Teng has indicated a strategic shift, as Binance intends to establish a formal global headquarters, moving away from its previous operational model without a central office.
In a related context, Trump has initiated the establishment of a Strategic Bitcoin Reserve, funded with Bitcoin acquired through federal seizures. The U.S. now possesses approximately $17.1 billion in cryptocurrencies, predominantly Bitcoin. Critics posit that increasing Bitcoin holdings could serve as an alternative to the USD, suggesting a paradigm shift in how digital assets are perceived by regulators.
The inclusion of Bitcoin in U.S. strategic reserves, traditionally focused on physical commodities like oil, signifies a progressive stance towards digital currencies. This change in policy has reportedly led the SEC to pause its inquiry into Binance’s business activities within the United States.
