Binance Eyes U.S., But ‘Wait-and-See’ Approach Remains,” Says Co-CEO Teng

The U.S. cryptocurrency market is poised for a potential shake-up as Binance, the world’s largest crypto exchange, considers reentering the country following its 2023 exit. The move comes amid an evolving regulatory landscape, with the Genius Act already in effect and the Clarity Act under debate. Industry leaders are closely watching how these developments could reshape competition, investor behavior, and the broader trajectory of crypto adoption in one of the world’s most important markets.

Ripple CEO Brad Garlinghouse has predicted that Binance, the world’s largest cryptocurrency exchange, will reenter the U.S. market, as Binance’s co-CEO Richard Teng signaled a cautious “wait-and-see” approach.

Binance exited the U.S. in 2023 following a $4.3 billion settlement with the Department of Justice, after then-CEO Changpeng Zhao pleaded guilty to failing to prevent money laundering on the exchange. Zhao was later pardoned by President Donald Trump in October 2025. Reports in December indicated that Binance was considering a U.S. return.

In a CNBC interview at Davos on Tuesday, Teng emphasized the strategic importance of the U.S. market.

“It’s a very important marketplace,” Teng said, adding that the exchange was adopting a “wait-and-see” approach.

Shortly afterward, Garlinghouse weighed in, predicting that Binance would indeed return.

“It’s a very large market, and ... not that many years ago, they were a material player,” he said.
“I think they’ll come back because they’re a capitalistic, innovative company that wants to solve ... larger markets and continue to grow,” Garlinghouse added.

He noted that Binance’s reentry could benefit U.S. investors by increasing competition and lowering fees.

“I think it will actually have the positive impact of bringing more people into the market, in part because it’ll reduce pricing,” Garlinghouse said. “Today their [Binance] pricing is lower on a global basis than what we see here in the U.S.”

Industry Perspectives on New Crypto Regulations

The U.S. has moved to regulate stablecoins through the Genius Act and is currently debating the Clarity Act, a broader framework for crypto regulation. While some industry participants, including Coinbase CEO Brian Armstrong, have expressed opposition, Teng and Garlinghouse support the bill.

“I would say that any regulation will be better than no regulation,” Teng, a former regulator, said.
“Once you have clarity, you can then start working around those rules, right? And in the first instance, most regulations will not be perfect, but it is then going through a round of enhancements.”

Garlinghouse expressed surprise at Coinbase’s strong opposition.

“I mean, basically, the rest of the industry, including exchanges that compete with Coinbase, were still supporting it,” he said.
“My understanding is everyone’s kind of still at the table. I’m hopeful we find the how to break that impasse ... If we want the industry to continue to grow ... we need things like the Genius Act, we need things like the Clarity Act.”

As the debate over U.S. crypto regulations continues, industry leaders emphasize that clear rules are essential for growth, innovation, and investor confidence, while major exchanges like Binance weigh their next moves in a market that remains highly dynamic and competitive.