Binance CEO: The recent sharp decline in Bitcoin is mainly caused by investors deleveraging and avoiding risks
2025-11-21 11:46:30
On November 2, Binance CEO Richard Teng said that the sharp decline in Bitcoin in the past month was mainly due to investors deleveraging and risk aversion, which is in line with the performance of most major asset classes. He stressed that although Bitcoin has corrected, it is still more than double the level when institutions such as BlackRock entered the market in 2024. Teng also pointed out that the company has not yet made a decision on whether Binance founder Changpeng Zhao (CZ) will return after being pardoned by Trump. CZ remains the controlling shareholder and retains corresponding rights, but Binance's day-to-day operations are carried out by seven directors, including three independent directors. (Reuters)
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