Binance’s current CEO delivered a speech to Binance users at the end of 2023, expressing gratitude for their support throughout the year. He acknowledged the challenges that Binance faced in 2023 but reassured users that the company remains committed to protecting their interests and meeting regulatory requirements. He also discussed the future development of Binance and its community.
Clear regulations have encouraged institutions to participate in Web3
Leading the way in Web3 and safeguarding user funds
Future prospects for Binance
In his address to Binance users, the newly appointed CEO, Richard Teng, emphasized that 2023 was a year of embracing change and honoring commitments to users. He shared his thoughts with Binance users before the end of 2023, reflecting on the company’s position within the cryptocurrency industry and its willingness to embrace reform. As a result, Binance has reached an agreement with regulatory authorities in the United States, aiming to become a truly compliant and user-centric organization that leads the digital asset industry into a new era.
Richard mentioned that after the announcement of the decision in the United States and the changes in Binance’s leadership, the company experienced a significant increase in net inflows and new users. The current number of registered users has exceeded 170 million, representing a 30% increase compared to the previous year. Particularly strong capital inflows from institutional investors reflect their growing trust in Binance and the Web3 ecosystem. In response to institutional participation and regulation, Binance has established innovative collaborations with third-party agreements in the banking industry to assist institutional investors in managing risks.
With more users joining Binance and Web3, Richard emphasized that their most important commitment is to their users. To make the Web3 world safer and more accessible to various Web3 platforms, Binance has launched the Web3 wallet to enhance user experiences. User experience and fund security are of utmost importance to Binance. Therefore, Binance has collaborated with global law enforcement agencies to combat digital asset crimes, conducted educational activities for users, and expanded the Binance SAFU (Secure Asset Fund for Users) worth $1.2 billion to ensure the security and transparency of user funds.
Looking ahead, Binance’s most important commitments lie with three key groups: Binance users, global regulatory authorities, and building and maintaining cooperative partnerships within the industry to achieve a stronger ecosystem. In conclusion, Richard expressed in the future outlook that:
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