Binance CEO hails Trump’s pro-crypto policies, anticipates global shift

Richard Teng, CEO of Binance, emphasized that U.S. President Donald Trump's recent establishment of a Strategic Bitcoin Reserve marks a significant shift in regulatory attitudes toward cryptocurrency, potentially prompting other nations to consider similar initiatives. Teng described this moment as a 'landmark' event that could encourage sovereign wealth funds and corporate treasuries to increase their allocations in crypto. EU ministers have expressed concerns about the implications of the U.S. Bitcoin reserve on monetary sovereignty, highlighting the need for a digital euro to maintain financial stability in the region. Despite the positive reception from crypto advocates, crypto prices have fallen following the announcement. Observers note that while Trump's pro-crypto policies may attract attention, the EU has already implemented a regulatory framework that positions it to lead in the long term. The ongoing developments suggest a competitive landscape for cryptocurrency regulation and investment globally.