Binance's new CEO, Richard Teng, promises to uphold the crypto exchange's core values while also promoting innovation and better consumer protection. Teng took over as CEO following the forced resignation of the company's founder, Changpeng Zhao. CZ's resignation was part of a US Department of Justice settlement agreement.
Teng formerly led Binance's Singapore division. Since then, he has quickly risen to the corporate ranks, eventually overseeing all locations outside of the United States. He has 30 years of experience in financial services and regulation. He directed the Financial Services Authority in Abu Dhabi and served as the Singapore Exchange's chief regulatory officer.
Teng plans to work closely with global regulators to maintain high standards, stimulate innovation, and defend the interests of consumers. He also intends to collaborate with Binance's partners to promote the growth and adoption of Web3 technology.
His commitment to core values and strategicapproach to regulatory adherence and technical development might potentially shift Binance's direction, ushering in a new era of resilience and growth for the cryptocurrency titan.
