Following regulatory scrutiny and a significant penalty, Binance has pivoted its strategy to provide advisory services on crypto to governments worldwide. CEO Richard Teng reveals that the exchange is assisting nations in establishing national Bitcoin reserves and developing digital asset regulations. He cites numerous inquiries from governments and sovereign wealth funds seeking guidance on building these reserves and crafting appropriate regulatory frameworks for the evolving crypto landscape. This shift follows Binance’s 2023 legal battles and a historic $4.3 billion penalty, including the resignation of co-founder Changpeng Zhao after pleading guilty to money laundering and sanctions violations. Notably, recent reports indicate that Binance has initiated discussions with U.S. Treasury officials regarding its independent compliance monitor. The exchange’s current role in government affairs marks a dramatic change from its past enforcement actions.