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Richard Teng, the chief executive officer of the world’s largest crypto exchange, Binance, who took over from Changpeng Zhao (CZ), has published an important statement. The message was about the revolutionary changes cryptocurrency has brought to the sphere of cross-border payments and remittances.
Richard Teng's crucial statement: "Crypto fixes this"
In his tweet, Binance boss Teng shared a message he received from someone in the Binance community. In this message, the author stated that cryptocurrency was the only way for them to receive money from another country, and that saved them: “Crypto saved us, it’s the only way we receive money from family abroad.”
Teng admitted that such messages from the community keep him motivated about his mission and motivate him to continue building crypto products with Binance. Besides, he said that borders between countries should not prevent people from using opportunities, and transaction "fees shouldn't disadvantage the underprivileged."
Finally, Richard Teng used a cliché that has been popular in the crypto community over the past few years, underscoring the transformative and innovative power of cryptocurrency: “Crypto fixes this.”
Binance Coin (BNB) outperforms Strategy
This week, the native token of the Binance exchange and BNB Chain, BNB, reached a new all-time high price of $859. The market capitalization value of Binance Coin briefly flew to $119 billion and currently stands at $114.5 billion.
Currently, BNB is changing hands at $822 per coin. At the peak of its market cap, BNB surpassed several corporate giants, including SoftBank, Nike and Bitcoin treasury company Strategy, founded and spearheaded by Michael Saylor. Strategy is the second-largest corporate Bitcoin holder after BlackRock’s spot ETF IBIT.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team