After former Binance CEO Changpeng Zhao resigned from the crypto firm, the company selected Richard Teng as the new Binance CEO.
Know More About Richard Teng
Richard Teng is a seasoned Singaporean businessman and former regulator with extensive experience in cryptocurrencies.
He earned his degree in accountancy from the National University of Singapore and pursued a master’s degree in business administration from the University of Chicago.
In August 2021, Teng became CEO at Binance Singapore, the leading fiat-to-crypto trading platform for Singapore dollars (SGD).
Additionally, Teng took on the position of Head of Regional Markets at Binance in November 2021, overseeing operations and strategy in Asia, Europe, the Middle East, and North Africa.
Teng emphasized his commitment to building trust, transparency, and compliance within Binance and the broader crypto industry.
What Are Teng’s Next Plans?
Teng highlighted three key areas of focus: ensuring user confidence, global regulatory collaboration, and driving Web3 growth.
“We are here to stay. Please lend me your support.” added Teng.
What Are Changpeng CZ Zhao’s Next Plans?
CZ announced his decision to step back from active leadership. He revealed plans for passive investing and intention to become a minority token/shareholder in startups across blockchain, Web3, DeFi, AI, and biotech.
On the prospect of founding another venture, Zhao expressed a desire for a different role and openness to mentoring upcoming entrepreneurs.
For now, CZ is out of custody on a $175 million bond until his next sentencing on February 23, 2024.
Hot Take
Binance announced Richard Teng as the new CEO, replacing Changpeng Zhao. While Teng takes over, Zhao plans for passive investing and mentoring upcoming entrepreneurs.
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