Binance CEO Richard Teng shared on social media platform X on Jan. 12, 2026, commentary on crypto’s market evolution, pointing to a shift away from a retail-only phase as institutional and corporate capital increasingly shape participation and liquidity.

“ Crypto is the only asset class in history to be built from the bottom up,” he said, adding:

“After years of being retail-led, the last 24 months have seen a massive influx of institutional capital. The corporate pool is deeper than it’s ever been.”

Teng highlighted how this progression reflects a structural change rather than a short-term allocation trend, emphasizing that early individual adoption laid the groundwork for broader financial engagement. His remarks framed institutions not as replacements for retail users but as additional layers that expand market depth, infrastructure investment, and long-duration capital. By characterizing crypto’s origins as fundamentally different from traditional assets, Teng underscored why professional investors are now approaching the sector with strategic commitment instead of exploratory exposure.

A growing body of data backs the view that crypto markets have shifted decisively from a retail-led phase to one increasingly driven by institutional and corporate capital over the past 24 months, fueled by regulatory clarity and the launch of spot crypto ETFs. Since January 2024, global crypto ETPs have attracted tens of billions of dollars in net inflows, pushing U.S. bitcoin ETFs alone past $100 billion in assets and drawing long-duration capital from pensions, endowments, and sovereign entities.

At the same time, corporate treasury adoption has accelerated, with nearly 200 public companies now disclosing bitcoin holdings, and on-chain institutional exposure surging alongside rapid stablecoin growth used for payments and settlement. Major financial institutions and payment networks have expanded direct crypto offerings, while surveys show most institutional investors now have exposure or concrete allocation plans. Together, these trends point to deeper market liquidity, altered trading dynamics and a structural integration of crypto into traditional finance, even as retail participation remains part of the ecosystem.

Read more: Bigger Than a Bull Market: Binance Signals Liquidity, Policy Easing, Trillions On-Chain

The Binance CEO’s view aligns with his prior statements on early-stage adoption. In May 2025, he explained that clear regulatory frameworks are central to scaling adoption, pointing to innovation, consumer safeguards, and global competitiveness as core requirements. A June 2025 message described how large financial players increasingly concentrate on execution through custody services, exchange-traded funds, and blockchain infrastructure rather than questioning crypto’s relevance.

On Jan. 9, Binance VIP & Institutional referenced comments from Teng at Binance Blockchain Week, where he mentioned:

“We’re still very early in the process, with only about 8% global crypto adoption… it’s just a matter of time.”

Taken together, these perspectives illustrate a consistent theme: institutional engagement now reflects deliberate integration, signaling the end of crypto’s retail-only era while reinforcing its role within the broader financial system.

• What did Binance CEO Richard Teng say about crypto markets?
  He said crypto has moved beyond a retail-only phase as institutional and corporate capital now drives liquidity and depth.
• Why does Teng call crypto a bottom-up asset class?
  He said early retail adoption built the foundation that later attracted institutional and corporate investors.
• How important is regulation to crypto adoption, according to Teng?
  He said clear regulatory frameworks are essential for scaling adoption and protecting consumers.
• What signals institutional commitment to crypto today?
  Teng pointed to custody services, ETFs, and blockchain infrastructure as signs of long-term integration.

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