Binance has reported a 40% increase in institutional and corporate investors in 2024, according to CEO Richard Teng during an interview at the Token2049 conference. Teng emphasized that institutional interest in cryptocurrencies is just beginning, as many firms are still conducting due diligence before fully committing. The growth reflects increasing confidence among major financial players, despite Binance's challenges, including a $4.3 billion settlement from a U.S. investigation that resulted in the resignation of co-founder Changpeng Zhao, who remains a significant shareholder. Teng noted that Binance has transitioned to a governance structure led by a board of seven directors, which aligns with regulatory expectations. He also pointed to recent regulatory developments, such as the approval of spot Bitcoin ETFs, as catalysts for increased institutional participation that contributed to Bitcoin reaching an all-time high earlier this year.