Marking a significant turning point, Richard Teng, the recently appointed chief executive officer of Binance, has made a resounding pledge to uphold the exchange’s foundational principles, while spearheading innovation and prioritizing consumer protection on a global scale.
Teng steps into the leadership role in the wake of Changpeng Zhao’s recent departure, a move dictated by a pretrial agreement with the U.S. DoJ that led to CZ resigning as Binance’s CEO.
I’ll be doing lots of talking over the next few weeks. Interviews, events, AMAs & more. Look forward to meeting many of you soon.
One point to reinforce now – #Binance’s core values will not change. We remain focused on protecting users & building a platform people love to use.
— Richard Teng (@_RichardTeng) November 24, 2023
The new CEO’s journey with the world’s biggest crypto exchange started two years ago, when he assumed the head role of Binance’s branch in Singapore. Swiftly ascending the corporate ladder, he ultimately assumed oversight for all regions outside the United States.
Boasting an impressive career spanning over 30 years in financial services and regulation, Teng brings a wealth of experience to his newfound position. His prior roles include head of the Financial Services Authority of global markets in Abu Dhabi and chief regulatory officer of the Singapore Exchange.
Underlining his unwavering commitment to regulatory adherence, Teng conveyed his intent to collaborate with global regulators, ensuring the promotion of high standards conducive to innovation and safeguarding consumer interests. Furthermore, he outlined ambitious plans to work closely with Binance’s partners to propel growth and foster the widespread adoption of Web3 technologies.
Teng’s commitment to preserving core values, coupled with his strategic approach to regulatory engagement and technological advancement, may position his tenure as a pivotal moment for the black-and-yellow crypto giant.
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