Binance gets new CEO after Changpeng Zhao steps down: Who is Richard Teng?
livemint.comBinance, the world's largest cryptocurrency exchange Changpeng Zhao has stepped down from his role after pleading guilty to breaking US anti-money laundering laws. As part of the deal, Zhao is not allowed to take on a management position in the company for the next three years, as per reports. Thus, in his announcement on social media site X, formerly Twitter, Zhao announced that Richard Teng, Binance's global head of regional markets, will take over as CEO.
"I’m pleased to announce that @_RichardTeng, our now former Global Head of Regional Markets, has been named the new CEO of Binance today. Richard is a highly qualified leader and, with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth. He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth," Zhao wrote.
Also Read: Binance CEO pleads guilty, steps down from company. Who is Changpeng Zhao? The succession was also announced by Binance in an official statement to the press and acknowledged by Teng in a separate post on X. A long-time executive of Binance, Teng was promoted to global head of regional markets earlier this year.
As per Zhao's tweet, prior to joining Binance, Richard was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM); Chief Regulatory Officer of the Singapore Exchange (SGX); and Director of Corporate Finance in the Monetary Authority of Singapore. "With Richard and the entire team, I’m confident that the best days for @Binance and the crypto industry lay ahead," Zhao said. Also Read: What is Binance’s connection with terrorist groups like Hamas, Al Qaeda, ISIS, and Palestinian Islamic Jihad?
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