Binance CEO says crypto exchanges will continue to come and go

CoinEx, a crypto exchange with Chinese roots, announced it will suspend operations and begin a phased business shutdown on Sept. 15, while Binance CEO Richard Teng said exchanges will continue to emerge and disappear. Sharing the comment on X, Teng said the crypto market has already gone through multiple boom cycles and will see more in the future. During those periods, some exchanges will disappear voluntarily and others will be forced out, Teng said. Over the long term, Teng added, what matters is how much the industry raises its own standards for trust and transparency, and how users are treated not only during boom times but also when everything comes to an end.