Binance CEO: More Exchanges Will Rise and Fall Amid Crypto Cycles

Amid CoinEx, a China-based cryptocurrency exchange, announcing it will cease operations starting September 15 with gradual business termination, Binance CEO Richard Teng said exchanges would continue to rise and fall. He shared the comments on X, stating that the crypto market has already experienced multiple bull runs and will see more in the future. During these periods, some exchanges will voluntarily shut down while others will be forced to exit. Long-term success depends on how well the industry elevates its standards for trust and transparency, and how it treats users even when markets decline.