Embracing the Role of Binance’s New CEO

Key Points:

• Richard Teng, formerly a key regulatory figure in Singapore’s financial sector, became CEO of Binance after Zhao Changpeng’s resignation due to legal issues and a significant settlement.
• Under Teng’s leadership, Binance focused on securing partnerships, promoting cryptocurrency innovation, and expanding the cryptocurrency ecosystem in non-US global regions.

Binance, the world’s largest cryptocurrency exchange by volume, today announced the appointment of Richard Teng as Binance’s new CEO.

Richard Teng become Binance’s New CEO

Richard Teng, a former chief regulatory officer of the Singapore Exchange (SGX) and director of corporate finance at the Monetary Authority of Singapore (MAS), has succeeded Zhao Changpeng as the CEO of Binance. Richard Teng brings a wealth of experience in financial services and regulatory affairs to the role and is committed to leading Binance into a new era of growth and innovation.

In a statement, Binance’s New CEO expressed gratitude for the opportunity to lead Binance, emphasizing the company’s strong foundation and promising future. “It is an honor and with the deepest humility that I step into the role of Binance’s new CEO,” said Richard Teng. “We operate the world’s largest cryptocurrency exchange by volume. The trust placed on us by our 150 million users and thousands of employees is a responsibility that I take seriously and hold dear.”

Continued Commitment to User Trust and Innovation

Binance’s New CEO outlined three key areas of focus for his tenure:

• Reassuring users of Binance’s financial strength, security, and safety
• Collaborating with regulators to uphold high standards globally
• Working with partners to drive growth and adoption of Web3

Richard Teng expressed confidence in Binance’s ability to continue to meet and exceed the expectations of its stakeholders. “With CZ’s and our leadership team’s support, I have accepted this role so that we can continue to meet and exceed the expectations of stakeholders while achieving our core mission, the freedom of money,” said Richard Teng. “The foundation on which Binance stands today is stronger than ever. To ensure a bright future, I intend to use everything I’ve learned over the past three decades of financial services and regulatory experience to guide our remarkable, innovative, and committed team.”

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