Crypto Market Pullback Is a Reset, Not a Failure, Says Binance Co-CEO Richard Teng

The crypto charts are bleeding again. But for Binance co-CEO Richard Teng, market red is not a signal of failure – it’s a stress test.

Speaking to CoinGape in an exclusive Block of Fame conversation, Teng shares why he believes the industry is quietly maturing beneath the noise.

“Market Red Is Not a Breakdown – It’s a Reset”

Teng is quick to contextualize the current downturn. Crypto, he argues, is behaving exactly like a high-beta global asset should.

Importantly, Teng points out that even after recent drawdowns, Bitcoin remains well above early-2024 levels, when institutional heavyweights like BlackRock first entered the space.

For Binance, quieter markets are not a pause, they are preparation.

Also Read: Ethereum Foundation’s James Smith on Next Upgrade

Token Listings: Why “Opaque” Is the Wrong Word

Token listings remain one of the most misunderstood parts of exchange operations. But Teng is blunt on it: “the process is neither casual nor static.”

Illicit Finance: A Perception Problem, Not a Crypto Problem

Few issues haunt crypto’s public image more than illicit finance. Teng doesn’t deny the challenge but he rejects the framing.

He cites data showing:

• $3.1 trillion in illicit funds flowed through traditional finance in 2023 (NASDAQ)
• $40 billion in crypto-related crime (Chainalysis, 2025)
• U.S. government reports confirming crypto’s share remains well below fiat channels

The solution, Teng argues, is not fear but coordination.

What Still Blocks Mainstream Adoption

Despite over 300 million registered Binance users, Teng says crypto still faces familiar friction.

The missing pieces according to him remain “Regulatory clarity, user education and real-world use cases.”

Also Read: Grayscale Research Head on Launching Solana ETF

Institutions Are In – But Not Just From Wall Street

Binance’s expanding institutional footprint  including off-exchange collateral setups and partnerships with firms like BlackRock signals a broader shift.

Regulation: Why MiCA-Style Clarity Matters, Even for India

Despite the accelerating institutional embrace of crypto, Teng acknowledges that skepticism still runs deep in several jurisdictions including India. Here exchanges are often viewed as risky intermediaries rather than financial infrastructure.

Crypto, he argues, is still a young industry when compared to Big Tech or traditional finance. And according to him, “uneven regulatory approaches are a natural consequence of that maturity gap.”

Yet momentum toward convergence is building.

Teng points to Europe’s Markets in Crypto-Assets (MiCA) framework as a meaningful step toward regulatory harmonization.

For Binance, regulation is not something to work around – it’s something to help shape responsibly.

While Teng declines to comment on specific licenses Binance is pursuing, his position on engagement is unequivocal.

Fixing the Hardest Misconception After CZ

Stepping in after someone as influential as CZ meant inheriting not just scale, but assumptions.

For Teng, the idea that growth and compliance sit on opposite ends of the spectrum misunderstands how Binance operates today.

Under his leadership, compliance is no longer treated as a defensive necessity. It is positioned as a strategic advantage.

Looking Ahead: The Top Priorities for 2026

That confidence, Teng emphasizes, is not static. It is built through constant feedback, accountability, and a willingness to evolve.

“We’re grateful to our community for their support and for their feedback,” he adds. “It helps us continue getting better.”

Looking ahead to the next 12–24 months, Teng says Binance’s priorities remain intentionally consistent rather than reactive.

Users, he says, remain the anchor.

At the same time, regulation remains a core pillar of Binance’s long-term strategy and not as a hurdle, Teng says.

And on BoF’s fav question on what keeps him up at night, despite the scale, Teng’s answer is simple.

“Crypto itself,” he says. “It’s a 24/7 industry, one that never stops evolving.” His focus remains “on building safer systems, improving UX, and staying ahead of emerging risks.”

Because in Teng’s view, trust, not price, is crypto’s real long-term asset.