Richard Teng Takes Charge as Binance CEO Following Changpeng Zhao’s Exit

After Changpeng Zhao’s exit, Richard Teng has stepped successful arsenic the caller main enforcement serviceman of Binance, the globe’s largest crypto speech successful presumption of trading volume. On Tuesday, Teng made his instauration to the nationalist done societal media level X, assuring that nether his stewardship, Binance volition “continue to conscionable and transcend the expectations of stakeholders.”

Richard Teng Assumes Binance’s Top Role, Succeeding CZ

This week marked a important lawsuit for crypto enthusiasts arsenic they observed 1 of the largest settlements successful the industry’s history. The colony progressive Binance and the U.S. Department of Justice, with Binance incurring fines totaling astir $4.3 billion.

Following this development, the exchange’s CEO, Changpeng Zhao — popularly known arsenic “CZ” — resigned. Post-settlement, connected Tuesday, CZ announced via Twitter that Binance’s ex-Global Head of Regional Markets, Richard Teng, has been appointed arsenic the caller CEO.

Teng brings an extended past successful the concern assemblage to his caller relation astatine Binance. His vocation spans assorted important roles successful regulatory and fiscal bodies, including the Singapore Exchange and Abu Dhabi Global Market. Additionally, helium has amassed implicit a decennary of acquisition astatine the Monetary Authority of Singapore.

“It is an honour and with the deepest humility that I measurement into the relation of Binance’s caller CEO,” Teng said connected the societal media level X.

The caller Binance brag added:

We run the world’s largest cryptocurrency speech by volume. The spot placed connected america by our 150 [million] users and thousands of employees is simply a work that I instrumentality earnestly and clasp dear.

Teng said that his goals are to reenforce Binance customers’ assurance successful the company’s soundness, prosecute with regulatory bodies worldwide, and collaborate with partners to guardant the adoption of Web3. A fig of radical responded to Teng’s societal media post. Tron laminitis Justin Sun welcomed Teng and said that helium believes nether Teng’s leadership, “Binance volition participate a caller section and execute caller successes.”

Adam Cochran, spouse astatine Cinneamhain Ventures, told Teng that helium hoped the speech could “raise the bar.” Cochran remarked that helium was “wiping the slate clean” successful respect to his sentiment of Binance and wished Teng and institution a “new journey.”

What bash you deliberation astir Richard Teng taking implicit Binance? Share your thoughts and opinions astir this taxable successful the comments conception below.