Binance CEO: From ‘Scam’ to ‘Next Big Thing’—How Institutions Flipped on Crypto

Binance CEO Richard Teng reflects on crypto’s journey from being labeled a scam. Major banks like JPMorgan, Morgan Stanley, and PNC are now offering or planning crypto-backed services. Corporate treasuries are accumulating Bitcoin at record levels. Binance CEO Richard Teng has drawn attention to the stunning transformation in how crypto is perceived. In a recent post on X, Teng contrasted the 2017 skepticism with today’s wave of institutional adoption. “Skeptics in 2017 said crypto was a scam,” Teng wrote , while “Institutions in 2025 [are saying]: ‘Crypto is the next big thing.’ Funny how things change,” he noted. His comments highlight how dramatically the financial landscape has evolved in just a few years. What was once viewed as a fringe technology is now being embraced by some of the largest financial institutions in the world. JPMorgan Considers Crypto-Backed Loans Among the clearest signs of this shift is JPMorgan Chase’s plan to offer loans backed by crypto holdings such as Bitcoin and Ethereum. According to Financial Times , the bank could roll out the service as early as 2026. The move would mark a complete reversal from… The post Binance CEO: From ‘Scam’ to ‘Next Big Thing’—How Institutions Flipped on Crypto appeared first on Coin Edition .

Source: Coin Edition