Seasoned Financial Executive Richard Teng Steps In as Binance CEO

Seasoned Financial Executive Richard Teng Steps In as Binance CEO
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Yes, Binance has a new CEO. Richard Teng was appointed as the new CEO on November 21, 2023. He replaced Changpeng Zhao, who stepped down after serving as the company’s CEO for five years.

Teng is a seasoned financial services executive with over 30 years of experience. He previously served as the CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), where he was responsible for overseeing the regulation of financial services in the emirate. He has also held senior positions at the Singapore Exchange (SGX) and the Monetary Authority of Singapore (MAS).

In his new role, Teng will be responsible for leading Binance’s global expansion and driving the company’s growth in new markets. He will also be focused on enhancing Binance’s compliance and regulatory practices.

Zhao said in a statement that Teng is “an ideal leader to take Binance into its next phase of growth.” He added that Teng’s “experience, expertise, and vision will be invaluable as we continue to build the world’s largest and most trusted cryptocurrency exchange.”

Teng said in a separate statement that he is “honored” to be appointed as Binance’s CEO. He added that he is “committed to working with the talented team at Binance to further enhance the company’s products and services and to continue to expand its global reach.”

Binance is the world’s largest cryptocurrency exchange by trading volume. The company has over 120 million users in over 200 countries and regions.

The appointment of Teng is a significant development for Binance. Teng is a respected figure in the financial services industry, and his appointment is likely to be seen as a positive development for the company. It is also a sign that Binance is committed to compliance and regulation.

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