Teng interprets Trump's victory as a "golden era" for the crypto industry, anticipating the arrival of new American regulators who are open to digital currencies. The crypto sector, previously under pressure from the former administration, now expects a significant policy shift in Washington.
Last year, Binance faced a substantial fine of $4.3 billion for violations of anti-money laundering and sanctions regulations, and its former CEO was imprisoned. The industry viewed the elections as a critical turning point for changing attitudes in Washington, which they believed stifled innovation and pushed businesses out of the U.S.
Investors are optimistic that the Trump administration will create an agenda that attracts major American institutions that have remained disengaged. Sherwin Pishavar, a venture capitalist with close ties to Trump and Elon Musk, expressed that the U.S. is "now on the verge of sensible crypto policy."
Trump's victory is seen as "an incredibly important day for the cryptocurrency industry," according to Mike Novogratz, billionaire and founder of the crypto group Galaxy.