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Ripple CEO Brad Garlinghouse said he expects Binance to eventually return to the United States, citing the country’s importance as a major growth market for the world’s largest cryptocurrency exchange.
Speaking at a CNBC event in Davos, Switzerland, Garlinghouse said Binance’s past presence in the U.S. and its global business model make a comeback likely.
“It’s a very large market, and not that many years ago, they were a material player,” Garlinghouse said. “I think they’ll come back because they’re a capitalistic, innovative company that wants to solve larger markets and continue to grow.”
Binance exited the U.S. in 2023 after reaching a $4.3 billion settlement with the U.S. Department of Justice. As part of the agreement, then-CEO Changpeng Zhao pleaded guilty to criminal charges related to the exchange’s failure to prevent money laundering. He today, coincidentally, posted a tweet saying, "Let's help make America the crypto capital of the world" in response to a clip showing President Donald Trump speaking at the World Economic Forum about crypto.
Let's help make America the crypto capital of the world. https://t.co/shmvaxR0Uc
— CZ 🔶 BNB (@cz_binance) January 21, 2026
Binance Calls U.S. a “Very Important Marketplace”
While Garlinghouse expressed confidence in Binance’s return, the exchange itself has adopted a more cautious tone.
Binance co-CEO Richard Teng told CNBC at Davos that the company views the U.S. as “a very important marketplace” but is currently taking a “wait-and-see” approach.
“We are monitoring regulatory developments closely,” Teng said, adding that Binance is focused on operating within compliant frameworks globally.
A Bloomberg report published in December suggested that Binance has been considering reentering the U.S. market following recent legal and regulatory developments. Zhao was also pardoned by President Trump in October, removing a key legal obstacle tied to the 2023 settlement.
Bart Hillerich
Garlinghouse Says Competition Would Benefit U.S. Crypto Users
Garlinghouse argued that Binance’s return would increase competition in the U.S. crypto market, potentially lowering costs for users and expanding access to digital assets.
“I think it will actually have the positive impact of bringing more people into the market, in part because it’ll reduce pricing,” he said. “Today their pricing is lower on a global basis than what we see here in the U.S.”
The U.S. crypto market has become increasingly concentrated following Binance’s exit, with platforms such as Coinbase dominating domestic trading volumes.
Industry Divided Over New Crypto Regulation
The comments come as U.S. lawmakers debate new crypto regulations, including the Clarity Act, a proposed framework for overseeing digital assets, and the previously passed Genius Act, which regulates stablecoins.
Coinbase CEO Brian Armstrong recently criticized the Clarity Act, saying his company “can’t support the bill as written.” However, both Teng and Garlinghouse expressed support for regulatory clarity, even if early versions of legislation are imperfect.
“Any regulation will be better than no regulation,” Teng said. “Once you have clarity, you can then start working around those rules.”
Garlinghouse said he was surprised by Armstrong’s opposition.
“The rest of the industry, including exchanges that compete with Coinbase, were still supporting it,” he said. “If we want the industry to continue to grow, we need things like the Genius Act and the Clarity Act.”
Ripple’s RLUSD Stablecoin Expands on Binance
The Davos comments coincided with fresh news involving both Ripple and Binance.
Ripple’s U.S. dollar-backed stablecoin, RLUSD, is set to launch spot trading on Binance, beginning with Ethereum-based support. XRP Ledger integration is expected to follow.
Initial trading pairs will include XRP/RLUSD and RLUSD/USDT. Binance also plans to expand RLUSD’s use through portfolio margin eligibility and future inclusion in Binance Earn products.
Ripple has positioned RLUSD as a regulated, payments-focused stablecoin aimed at institutional users. The token is backed one-to-one by U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents, with monthly attestations for transparency.
RLUSD’s market capitalization has recently surpassed $1.3 billion, reflecting growing demand for stablecoins designed for payments rather than speculative trading.
The stablecoin is issued under a New York Department of Financial Services limited-purpose trust charter, and Ripple has received conditional approval for a U.S. Office of the Comptroller of the Currency charter. RLUSD has also been cleared for institutional use in Abu Dhabi, strengthening Ripple’s presence in the Middle East.
Binance’s global reach is expected to significantly boost RLUSD’s visibility, particularly in emerging markets where stablecoins are used for remittances and access to U.S. dollars.
A Potential Shift in U.S. Crypto Market Dynamics
If Binance does return to the U.S., it could reshape the competitive landscape for crypto trading platforms, increase price competition, and expand access to digital assets for American users.
For now, the exchange remains cautious, while industry leaders like Garlinghouse continue to signal confidence that regulatory clarity and market demand will eventually bring Binance back to the U.S. market.
