The David Lin Report · Wednesday, July 1, 2026
Richard Teng observed that Binance's user base has evolved from primarily retail investors to a more diverse mix including institutions, corporations, and even sovereigns. This shift has led to a more robust and healthier marketplace with varied investment strategies and horizons.
“Well, again, I do think that it is now a more mature market, it's much more robust on that front. Because in the past, when it's just mainly retail, I mean, the base was a lot of retail.”
“But when you have, you know, institutions, corporates, and in many instances, sovereigns coming to play, they have different investment appetite, they have different investment thesis, horizon, and that, you know, uh, adds to the diversity of different areas of investment and how the investment dimension changes on that front.”
“So it's quite interesting to see all those dynamics coming into play, and that makes for a much better and much healthier marketplace.”