Binance regional markets head Richard Teng assures that despite recent regulatory challenges, the global cryptocurrency exchange remains financially secure and distinct from bankrupt peer FTX. In an interview with Magazine editor Andrew Fenton, Teng addressed the challenges faced by Binance’s regional branches and dismissed rumors of taking over from founder Changpeng “CZ” Zhao. Teng emphasized that Binance has successfully addressed issues as they arise and maintains its financial strength and ability to process customer withdrawals. He refuted comparisons to FTX, stating that Binance’s assets are fully backed. Teng also confirmed that Binance has not yet made a decision about its Russian franchise and remains committed to adhering to international norms regarding sanctioned individuals and entities. Additionally, he welcomed the maturing regulatory frameworks, such as the European Union’s MiCA regulation, which could establish standardized rules for the industry and promote harmonized global regulatory guidelines.
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