Binance CEO Richard Teng: “Crypto Is Like Jurassic Park—New Challenges Emerge Every Day, But We’re Ready”

During the CEO Connect: April Edition AMA, Binance CEO Richard Teng candidly addressed how he and the team at Binance navigate the relentless pace and volatility of the crypto industry, especially as centralized exchanges face heightened scrutiny during market swings.“To be honest, we’re in a very young industry,” Teng said. “It’s not just this year—we face challenges every year, and because Binance operates a 24/7 global service, new issues and situations are constantly popping up.”Comparing the fast-evolving nature of crypto to Jurassic Park, Teng shared a recent conversation in Washington, D.C., where stakeholders described the industry as unpredictable and filled with emerging threats.“Crypto is like Jurassic Park. It’s new, constantly evolving, and you never know what to expect. But at Binance, you’re given the right weapons and ammunition to handle whatever comes,” he said.Speed, Tools, and Talent: How Binance Handles Crisis MomentsTeng emphasized that Binance is uniquely equipped to handle these challenges thanks to its robust tech infrastructure, deep bench of skilled talent, and a user-first philosophy.“I’m very privileged to work at Binance. We have the tools to solve problems, and new talent joins every day with fresh skills and expertise,” he added.He gave a real-world example from earlier in the week, when an AWS server interruption affected several exchanges across the crypto ecosystem. Binance’s tech team, however, responded within minutes.“Our tech team detected the issue and resolved it within 30 minutes. Thanks to their speed, some of our users didn’t even notice the disruption.”Users at the Center, Always BuildingTeng closed the topic by reiterating Binance’s unwavering focus on problem-solving with speed and quality.“At Binance, users are always front and center. We keep building. When problems pop up, we solve them fast and well. That’s what defines us.”