Richard Teng, the CEO of the world’s largest cryptocurrency exchange Binance, has shared an ambitious goal that he personally aims to achieve: attracting a billion users to the platform. In Teng’s viewpoint, this journey towards onboarding one billion users isn’t merely a dream; it is a mission.
Instead of merely aiming for a 10-digit figure, Binance’s goal, as Teng sees it, is to ensure that each action they take contributes significantly to bringing cryptocurrency closer to becoming mainstream within the broader industry.
Completing this task requires more than just contributions from the exchange; our CEO views it as a collaborative endeavor that involves the collective strength of the entire cryptocurrency sector, with a particular emphasis on developers and builders.
Our goal of attracting one billion users isn’t merely an aspiration; it’s a purposeful endeavor.
Each move we make now propels us further towards making cryptocurrency a common practice in society.
Together, let’s construct this future. 🤝
— Richard Teng (@_RichardTeng) January 9, 2025
A target of one billion users isn’t just a lofty goal; in fact, it represents more than 12.5% of Earth’s total population. Moreover, the user base for the entire cryptocurrency market currently hovers around 580 million, which is substantial, but it appears that this figure might serve as a cap for crypto at present. This is due to the fact that over the past few years, the user base has experienced double-digit growth, and the market itself has been in existence for nearly 15 years.
It’s logical to infer that the growth prospects might be diminishing. However, the current political climate and digital advancements could potentially foster growth and help Teng achieve its goal.
Currently, Binance stands as an expansive platform boasting over 250 million users and managing a substantial asset value of approximately $151.427 billion. Contemplating its potential size when it surpasses the one billion user milestone is truly mind-boggling.
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2025-01-09 14:31