Binance.US CEO: Digital assets will become the backbone of mainstream finance by 2025

Norman Reed, interim CEO of Binance.US, has shared his thoughts on the challenges and growth prospects facing the platform as 2025 approaches, highlighting the evolving role of digital assets in the broader financial landscape. In a blog post published last week, Reed highlighted the resilience of the cryptocurrency industry despite regulatory hurdles and emphasized the long-term potential of digital assets. “We expect digital assets to become an important part of the ‘mainstream’ financial ecosystem in the U.S. and around the world,” he said. “In the long run, cryptocurrencies are an ascending ladder, with each cycle building on the last.” His comments come as Binance.US continues its legal battle with the U.S. SEC after the agency filed a civil lawsuit against the company in 2023. Speaking about the SEC’s actions, Reed criticized the regulator’s approach, arguing that it has hindered innovation and harmed the cryptocurrency industry, “Ultimately, I firmly believe that the actions of the current SEC administration have not only failed to uphold the agency’s founding principles, but have also caused significant harm to American consumers and the cryptocurrency industry, including Binance.US.” Despite these setbacks, Reed remains confident in the company’s ability to persevere, “But ultimately, I take comfort in the fact that we have withstood the SEC’s excessive intervention.” He further noted: “It is worth noting that while the SEC has been closely monitoring the company, it has not provided any evidence of misconduct to date.” Looking forward, Reed expressed optimism about the platform’s future, noting that regulation is likely to improve under new SEC leadership. He stressed: “In the meantime, we welcome the establishment of a clear and practical regulatory framework for digital assets in the United States. I hope that the nomination of Paul Atkins as the next SEC Chairman will bring us closer to this reality.” (Bitcoin.com)