From ‘Scam’ to ‘Next Big Thing’—How Institutions Flipped on Crypto
- Binance CEO Richard Teng reflects on crypto’s journey from being labeled a scam.
- Major banks like JPMorgan, Morgan Stanley, and PNC are now offering or planning crypto-backed services.
- Corporate treasuries are accumulating Bitcoin at record levels.
Binance CEO Richard Teng has drawn attention to the stunning transformation in how crypto is perceived. In a recent post on X, Teng contrasted the 2017 skepticism with today’s wave of institutional adoption.
“Skeptics in 2017 said crypto was a scam,” Teng wrote, while “Institutions in 2025 [are saying]: ‘Crypto is the next big thing.’ Funny how things change,” he noted.
His comments highlight how dramatically the financial landscape has evolved in just a few…
