Richard Teng: Binance's Retail and Institutional Users Grow in Sync
Binance Co-CEO Richard Teng stated that in the first half of 2026, retail user growth is approximately 7%, and institutional user growth is 9%, with new trading volume around $11.4 trillion.
Both retail and professional users are turning to digital assets, creating a positive cycle through economies of scale and ease of access on the platform.
The influx of retail funds and institutional allocation funds is driving the expansion of trading volume, benefiting Binance from a dual-driven approach while smaller platforms face liquidity diversion pressure.
Source: Public Information
ABAB AI Insight
Since taking over as CEO in 2024, Richard Teng has continuously promoted Binance's compliance transformation, previously adapting to regulations by exiting multiple markets and strengthening institutional services, similar to the path of transitioning to compliance and scaling during the CZ era.
Binance is leveraging global liquidity and licensing resources to focus on retail and institutional products, motivated to solidify its leading position and amplify trading volume and fee income during bull market cycles, achieving network effects through the synergy of dual user groups.
Similar to Coinbase's balanced strategy for retail and institutional users, and the positioning of competitors like OKX in Asia, Binance is currently in a mature phase of global exchanges transitioning from retail dominance to institutional penetration.
Essentially, this represents capital concentration: both institutional and retail funds are gathering towards leading compliant platforms, reducing marginal costs and enhancing pricing power through economies of scale, accelerating industry reshuffling and resource concentration among a few players.
ABAB News · Cognitive Law
- In a bull market, retail and institutional growth occurs in sync, with leading platforms reaping scale benefits.
- Trading volume is a function of scale, and ease of access serves as a growth lever.
- The more concentrated the liquidity, the closer the fees are to a money-printing machine, while smaller platforms accelerate their exit.