Binance Co-CEO Richard Teng: "The Smart Money Is Deploying" Amid Market Volatility
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Binance Co-CEO Richard Teng expressed confidence in the long-term outlook for digital assets, emphasizing sustained institutional engagement despite recent market volatility, during a fireside chat at Consensus Hong Kong 2026.
Since peaking in October 2025, cryptocurrency markets have experienced a significant correction, with approximately $2 trillion in value erased and Bitcoin trading below $70,000 at recent lows. While some market participants have raised concerns about a prolonged downturn, Teng underscored the cyclical nature of digital asset markets.
"At the macro level, there remains uncertainty around interest rate movements and ongoing geopolitical developments, which weigh on risk assets such as crypto," Teng said. "For those who have been involved in crypto for a long period of time, you know that crypto moves through cycles."
Institutional Demand Remains Strong
While retail participation has softened compared to the previous year, Teng highlighted continued institutional accumulation. Corporate and institutional entities currently hold approximately 1.3 million Bitcoin, with an additional 43,000 added in January alone.
"The corporates' deployment is still strong. The smart money is deploying," Teng said. "On a risk-weighted average basis, this environment presents a more attractive entry point for institutions. Every time you see a correction like this, we prepare for the next leg up."
Advancing Real-World Asset Tokenization
Beyond cryptocurrencies, Teng pointed to accelerating progress in the tokenization of real-world assets (RWAs). He noted growing interest from traditional financial institutions seeking greater operational efficiency, including faster cross-border settlements and 24/7 trading capabilities.
Precious metals were cited as a prime example of assets that could benefit from tokenization, given their global trading across time zones and sensitivity to real-time news flows.
"Anytime there's news anywhere in the world, it can immediately impact these investments," Teng said, highlighting the advantages of around-the-clock digital infrastructure.
Addressing Market Concerns
Teng also addressed recent allegations regarding Binance's financial health and a reported $19 billion liquidation event on October 10. He reaffirmed that Binance remains financially strong, serving 300 million users and recording $34 trillion in trading volume in 2025.
Regarding the liquidation event, Teng attributed the sell-off to broader macroeconomic shocks, including geopolitical tensions related to rare earth trade restrictions and tariff responses, noting that volatility was observed across multiple exchanges in the industry.
"The crypto industry is no stranger to FUD—fear, uncertainty and doubt—and as the largest platform, we naturally receive our fair share," Teng said. "It's not the first time there's been FUD about us. We have weathered every cycle. This is nothing new."
Long-Term Commitment to Growth
As digital asset markets continue to evolve, Binance reiterated its commitment to strengthening institutional infrastructure, supporting innovation in tokenization, and maintaining transparency and resilience through market cycles.
