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After the Binance CEO introduced his resignation, probably the most requested questions within the crypto world was “who’s new Binance CEO”. The alternative for the enduring face of crypto has been introduced, and it is somebody very conversant in the business.
Richard Teng has assumed the place of CEO at Binance, succeeding Changpeng Zhao, who stepped down following prison costs within the U.S.
Richard Teng, an skilled business skilled from Singapore, initially joined Binance in 2021 to bolster the platform’s world compliance efforts.
His journey throughout the group, from CEO of Binance Singapore to heading regional markets, culminated in his current appointment because the chief govt of the world’s largest cryptocurrency change.
Who’s new Binance CEO?
Richard Teng’s ascent to the position of Binance CEO is rooted in his outstanding skilled journey. Earlier than becoming a member of Binance, he served because the CEO of the Monetary Providers Regulatory Authority at Abu Dhabi International Market and performed a pivotal position because the chief regulatory officer on the SGX, overseeing coverage frameworks associated to itemizing, buying and selling, and clearing actions.
Richard Teng’s wealth of expertise extends over 13 years on the Financial Authority of Singapore, the place he held numerous roles, together with director of company finance.
Throughout his tenure, he performed a vital position within the transformative adjustments to Singapore’s monetary providers sector within the late Nineties, significantly in creating personal banking and capital market segments.
Richard Teng’s imaginative and prescient for Binance and the business
Teng’s imaginative and prescient for Binance is obvious and forward-thinking. In his current assertion, he emphasised leveraging his three many years of monetary providers and regulatory expertise to information the workforce towards a vivid future.
Teng is dedicated to assuring customers of Binance’s monetary power, safety, and security. His focus extends to collaboration with regulators worldwide to uphold excessive requirements that foster innovation whereas making certain important shopper protections.
Changpeng Zhao, in acknowledging Teng’s management, expressed confidence in his capability to navigate Binance via its subsequent section of development, emphasizing a dedication to safety, transparency, compliance, and general enlargement.
CZ said in a Twitter/X publish:
”Richard is a extremely certified chief and, with over three many years of monetary providers and regulatory expertise, he’ll navigate the corporate via its subsequent interval of development. He’ll guarantee Binance delivers on our subsequent section of safety, transparency, compliance, and development.
Previous to becoming a member of Binance, Richard was CEO of the Monetary Providers Regulatory Authority at Abu Dhabi International Market (ADGM); Chief Regulatory Officer of the Singapore Alternate (SGX); and Director of Company Finance within the Financial Authority of Singapore.
With Richard and the complete workforce, I’m assured that the perfect days for @Binance and the crypto business lay forward”.
As we speak, I stepped down as CEO of Binance. Admittedly, it was not simple to let go emotionally. However I do know it’s the proper factor to do. I made errors, and I need to take duty. That is greatest for our neighborhood, for Binance, and for myself.
Binance is now not a child. It’s…
— CZ ? BNB (@cz_binance) November 21, 2023
As Richard Teng takes the reins at Binance, the cryptocurrency business witnesses a seasoned chief with a sturdy background in world compliance and regulatory affairs.
His dedication to guiding Binance via its subsequent interval of development aligns with the corporate’s ongoing efforts to take care of safety, transparency, and compliance.
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