“It’s a very large market, and … not that many years ago, they were a material player,” Garlinghouse stated in a CNBC interview in Davos. The Ripple chief executive added:
“I think they’ll come back because they’re a capitalistic, innovative company that wants to solve … larger markets and continue to grow.”
His remarks followed separate comments from Binance co-CEO Richard Teng, who described the exchange’s current posture as a “wait-and-see” approach toward reentering the U.S., which he characterized as “a very important marketplace.”
Binance exited the country in 2023 after reaching a $4.3 billion settlement with the Department of Justice (DOJ) tied to compliance failures, and the subsequent guilty plea of then-CEO Changpeng Zhao (CZ). Zhao later received a pardon from President Donald Trump, fueling renewed speculation about Binance’s strategic options.
“I think it will actually have the positive impact of bringing more people into the market, in part because it’ll reduce pricing.”
He contrasted current conditions, stating, “Today their pricing is lower on a global basis than what we see here in the U.S.”
FAQ ⏰ Why does Brad Garlinghouse think Binance will return to the U.S.? He says the U.S. is too large and important for a global exchange like Binance to ignore. How could Binance’s return affect U.S. crypto markets? Garlinghouse argues it would boost competition, liquidity, and lower pricing. Why did Binance leave the U.S. market in 2023? Binance exited after a $4.3 billion DOJ settlement and compliance-related guilty plea. What role does crypto regulation play in Binance’s potential comeback? Pending legislation like the Clarity Act could shape the rules for Binance’s reentry.
