Binance CEO Richard Teng stated that Bitcoin's recent price volatility is a result of investors deleveraging and increased risk aversion, aligning with trends seen across major asset classes. Speaking at a media roundtable in Sydney, Teng emphasized that fluctuations are typical in any asset class and noted that despite recent declines, Bitcoin remains valued at more than double its 2024 levels. He highlighted the crypto industry's strong performance over the past 18 months, suggesting that current market consolidation is beneficial for long-term stability. Teng refrained from commenting on whether Changpeng Zhao would return to Binance following a pardon by President Trump in October.