Name: Binance 首席執行官談 2025 年加密貨幣的未來 (Binance CEO talks the future for crypto in 2025)
Uploaded: 2025-08-20T17:52:38.000Z
Duration: 30 min 38 s

Welcome to Beyond the Valley, a CNBC Tech podcast with Arjun Karpal and Tom Chitty.

歡迎收聽 CNBC 科技播客阿瓊-卡帕爾（Arjun Karpal）和湯姆-奇蒂（Tom Chitty）的《超越山谷》（Beyond the Valley）節目。

情態助動詞 B1

After 2024's crypto market surge, there is optimism among insiders that Donald Trump's presidency might bring more favorable policies for an industry that feels they have been the unfair target of attacks from regulators.

在 2024 年加密貨幣市場大漲之後，業內人士樂觀地認為，唐納德-特朗普的總統任期可能會為這個行業帶來更有利的政策，因為他們認為自己一直是監管機構攻擊的不公平目標。

My guest today is Richard Teng, CEO of Binance Cryptocurrency Exchange that has had its fair share of controversy.

我今天的嘉賓是 Binance 加密貨幣交易所的首席執行官理查德-滕（Richard Teng）。

In November 2023, former Binance chief Chang Pengjiao pleaded guilty to criminal charges and stepped down as the company's CEO as part of a $4.3 billion settlement with the Department of Justice in the US.

2023 年 11 月，作為與美國司法部達成的 43 億美元和解協議的一部分，Binance 前首席執行官張鵬蛟承認了刑事指控，並辭去了公司首席執行官一職。

Binance, under current CEO Richard Teng, has rebuilt and moved past the cultural issues and the company is now looking for growth.

在現任首席執行官理查德-滕（Richard Teng）的上司下，Binance 已經重建並擺脫了文化問題的困擾，現在公司正在尋求發展。

Richard, thanks for joining me for this special edition of Beyond the Valley from the World Economic Forum's meeting in Davos.

理查德，感謝您收看本期世界經濟論壇達沃斯會議特別節目《超越山谷》。

So we will dig into your plans for Binance, but can we start with the markets?

我們將深入探討您對 Binance 的計劃，但我們能從市場開始嗎？

Bitcoin, record highs, the markets are very buoyant.

比特幣屢創新高，市場非常活躍。

Are you expecting this optimism to continue into 2025?

您預計這種樂觀情緒會持續到 2025 年嗎？

And really, in your view, what's underpinning all this?

在你看來，支撐這一切的究竟是什麼？

So if you look at even some of the 2024 is going to be a good year for crypto, but 2025 is going to be an even better year than 2024.

是以，如果你看一看，2024 年對加密貨幣來說是個好年份，但 2025 年會比 2024 年更好。

And the basis for that assumption is, look, in early 2024, you see the approval of ETF, firstly in the United States, and then subsequently in many different jurisdictions around the world.

這一假設的依據是，2024 年初，ETF 將首先在美國獲得準許，隨後在全球許多不同的司法管轄區獲得準許。

And that represents a significant mindset shift, right?

這代表著思維方式的重大轉變，對嗎？

And for the longest time, if you think about the crypto industry, it has been embraced by grassroots, by the retail, and unlike any other asset class that are firstly always adopted by institutions, then go down to corporates, high net worth individuals, then finally is available to retail.

長期以來，加密貨幣行業一直受到草根階層和散戶的追捧，而不像其他資產類別那樣，首先總是被機構採用，然後再流向企業、高淨值個人，最後才面向散戶。

The retail embrace it, wanted it for the longest time, but regulators were not spending time on it.

零售業擁護它，想要它很久了，但監管機構卻沒有花時間在這上面。

Financial institutions think it's a passing fad.

金融機構認為這只是過眼雲煙。

They are not spending time and energy on it.

他們沒有在這方面花費時間和精力。

And 2024 has been that instrumental shift in terms of mindset.

而 2024 年則是思維方式的重要轉變。

And with the likes of BlackRock, Charles Schwab, Fidelity, if you go through the top 100 financial institutions in the world last year, everyone started to have a crypto agenda and blockchain strategy going forward.

貝萊德（BlackRock）、嘉信理財（Charles Schwab）、富達（Fidelity）等去年全球排名前 100 的金融機構都開始制定加密議程和區塊鏈戰略。

Last year alone on our platform, we have seen a 100% increase in terms of the number of institutions that are being onboarded to start trading crypto.

僅去年一年，在我們的平臺上，加入加密貨幣交易的機構數量就增加了 100%。

And that's actually very, very significant.

And why do I say that 2025 is going to be a much better year than 2024?

為什麼我說 2025 年會比 2024 年好得多呢？

Because if you think about it, most of these financial institutions, they'll take their time in terms of due diligence.

因為仔細想想，大多數金融機構在盡職調查方面都會慢慢來。

And that would normally take six, nine months.

而這通常需要六到九個月的時間。

And macroeconomic environment has changed now.

現在宏觀經濟環境已經發生了變化。

It's slightly much more benign in terms of inflationary situation.

就通脹形勢而言，它要稍微溫和得多。

And last year, we got a big bonus towards the end of the year.

去年，我們在年底拿到了一大筆獎金。

You have the leader of the free world being elected.

我認為這給了它新的樂觀主義。

And the narrative has shifted quite drastically.

而敘事方式也發生了巨大變化。

I've met with quite a few corporate leaders.

And the sentiment has shifted quite drastically since last year.

自去年以來，人們的情緒發生了很大變化。

Yeah, we'll address the new US president in a moment, Richard.

是的，我們稍後將討論美國新總統，理查德。

And I probably ask you this every time I see you, and you probably say, I don't do predictions.

我可能每次見到你都會問你這個問題，你可能會說，我不做預測。

But do you think Bitcoin hits a new record high again this year?

但是，您認為比特幣今年還會再創新高嗎？

Well, if you look at past cycles, again, this year will be a year that we will see a new all-time high for the crypto industry.

如果回顧過去的週期，今年將再次創下加密貨幣行業的歷史新高。

那麼，讓我們來解決這個問題。

We're recording this a day after a new president in the United He campaigned on the trail with the pro-crypto message, as you said, as well.

正如你所說的那樣，在美國新總統上臺競選的第二天，我們就錄製了這段視頻。

And his whole thing was about creating a crypto-friendly environment.

他的目的就是要創造一個對加密貨幣友好的環境。

Now, I know your industry was very upset about the way the US Security and Exchange Commission, in particular, went after certain crypto companies as well.

現在，我知道你們的行業對美國證券交易委員會的做法非常不滿，尤其是對某些加密貨幣公司。

But under the Trump administration, what do you expect the environment to look like for the broader crypto industry?

但是，在特朗普政府的上司下，您預計更廣泛的加密行業的環境會是怎樣的？

Well, it's certainly going to be very different.

So if you look at what happened in the last four years, at least in the States, so you have seen companies, especially in the crypto industry, gravitating out of the US because of operational choke point that happens.

是以，如果你看看過去四年發生的事情，至少在美國，你會看到公司，尤其是加密貨幣行業的公司，因為營運瓶頸而紛紛撤離美國。

And they feel stifled in terms of innovation.

And many of those innovation and then building was done outside of the States.

其中許多創新和建設都是在國外完成的。

I think under President Trump, it gave it new clarity.

我認為，在特朗普總統的上司下，這一點有了新的清晰度。

So if you look at regulatory clarity, which is something that's very simple and that's very much needed for the industry, with not only the president being pro-crypto, but if you look at the House of Representatives, the Senate now is pro-crypto compared to the past.

是以，如果你看看監管的清晰度，這是非常簡單的事情，也是行業非常需要的，不僅總統支持加密貨幣，而且如果你看看眾議院，與過去相比，現在的參議院也支持加密貨幣。

You have pro-crypto regulators being appointed to key commissional roles in the SEC and CFTC and throughout the administration.

支持加密貨幣的監管者被任命為美國證券交易委員會（SEC）和美國商品期貨交易委員會（CFTC）以及整個政府的重要委員會成員。

So I think that's one aspect of it, which is extremely important for clarity in order for us to know how to operate.

是以，我認為這也是其中的一個方面，這對於我們明確如何運作極為重要。

So sorry, just to expand on that, you think there will be more meaningful regulation in the US this year?

對不起，我想進一步問一下，你認為今年美國會有更有意義的監管措施嗎？

And do you think a lot of people are talking about stable coins as perhaps the first wave first, because there was a bill already going through the legislative process, but are there other areas you feel that actually the US could take a lead here and create a real solid framework?

你是否認為很多人都在談論穩定幣可能是第一波先行者，因為有一項法案已經通過了立法程序，但你是否覺得美國還可以在其他領域發揮帶頭作用，建立一個真正穩固的框架？

If you look at the current framework now, it's unclear on so many different aspects.

如果你看看現在的框架，它在許多不同方面都不明確。

So the more clarity that you can give on every aspect of it, from token issuance, to trading, to OTC, to asset management, everything along that spectrum will be extremely important for the journey ahead for crypto.

是以，從代幣發行、交易、場外交易到資產管理，每一個環節越清晰，對加密貨幣的未來發展就越重要。

But that's just touching just on purely the regulatory aspect of it, but it's giving the certainty, giving the recognition that the sector needs.

但這只是純粹的監管方面，但它給予了行業所需的確定性和認可。

And the formation or the possible formation of a US strategic Bitcoin reserves against big volumes of the intention going forward.

而美國戰略比特幣儲備的形成或可能形成，也是為了應對未來的大宗比特幣需求。

And it's not only the federal government, if you look at the state government, many of the state government are now looking to instill their own crypto reserve.

不僅是聯邦政府，如果你看看州政府，很多州政府現在都在尋求建立自己的加密貨幣儲備。

So the different multinationals, the Fortune 500 companies will, I think, increasingly have their treasury do crypto.

是以，我認為，不同的跨國公司、財富 500 強公司將越來越多地讓他們的財務部門使用加密貨幣。

I'm asking for our listeners, I'm asking the audience, has everyone heard of the Bitcoin reserve that Trump has proposed?

我想問問聽眾朋友們，大家都聽說過特朗普提出的比特幣儲備計劃嗎？

Well, it's similar to a country holding its assets in different asset class, and crypto is an important asset class going forward.

這就好比一個國家在不同的資產類別中持有資產，而加密貨幣是未來的重要資產類別。

I mean, the fact that President Trump appointed AI and in itself speaks volumes about the importance of these two fundamental technologies that's going to drive every subsector in terms of innovation going forward, right?

我的意思是，特朗普總統任命人工智能專家這一事實本身就充分說明了這兩項基礎技術的重要性，而這兩項技術將推動每一個細分領域的創新，對嗎？

In terms of supply chain, financial services, real estate, entertainment.

在供應鏈、金融服務、房地產和娛樂方面。

These two fundamental technologies are the key building blocks for the future.

這兩項基礎技術是未來的關鍵基石。

But having said that, the US will not be the first country to set up a strategic reserve in terms of crypto.

儘管如此，美國不會是第一個建立加密貨幣戰略儲備的國家。

And many countries around the world are considering this at this point in time.

目前，世界上許多國家都在考慮這樣做。

Richard, can I just talk about perception for a little bit?

Because your industry has been working very hard to change the perception of what crypto is, that it's not full of illegal scams and bad actors, right?

因為你們這個行業一直在努力改變人們對加密貨幣的看法，認為它並不充滿非法騙局和壞人，對嗎？

That's something that a lot of people in the industry have been talking about.

這是很多業內人士一直在談論的話題。

When you have the President and the First Lady launching their own meme coins, does that help at all?

總統和第一夫人都推出了自己的紀念幣，這有什麼幫助嗎？

Well, I think we can have a debate and argument around that.

好吧，我想我們可以圍繞這個問題展開辯論和爭論。

But that just represents a different aspect of engaging the community and different aspects of innovation, right?

但這只是吸引社區參與的一個不同方面，也是創新的不同方面，對嗎？

But crypto is so broad, and you're talking about a tiny sliver within the crypto dimension, right?

但加密貨幣的範圍很廣，而你說的只是加密貨幣中的一小部分，對嗎？

So if you look at what crypto represents, yeah, infrastructure layer, I mean, the likes of Bitcoin, Ethereum, Solana.

所以，如果你看看加密貨幣代表了什麼，是的，基礎設施層，我是說，像比特幣、以太坊、索拉納。

Again, there are level two infrastructure, there's DeFi, there's GameFi, there's SocialFi, there's AI agents, and that list goes on, right?

同樣，還有二級基礎架構、DeFi、GameFi、SocialFi、人工智能代理等等，不一而足，對嗎？

There are so many different aspects that people are building the future, transforming the space, the future of finance, the future of money, right?

人們正在構建未來、改造空間、金融的未來、貨幣的未來，這些方面涉及到方方面面，對嗎？

So if you just look at this particular sliver of meme coins or FEN tokens, again, that represents a small part of it, but important aspect of getting the youth, the young engaged on that front.

是以，如果你只看 Meme 硬幣或 FEN 代幣這一小部分，這只是其中的一小部分，但卻是讓年輕人参與其中的重要方面。

Just very much like what you have in terms of meme stocks, right?

就像你的備忘錄股票一樣，對嗎？

Which is anti-establishment, people embrace that for different reasons.

這是反建制的，人們出於不同的原因接受這種觀點。

字幕列表影片播放

Binance 首席執行官談 2025 年加密貨幣的未來 (Binance CEO talks the future for crypto in 2025)

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extremely

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