Who is Binance’s New CEO Richard Teng? Here are the Latest Events!

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Changpeng Zhao, Founder-CEO of leading cryptocurrency exchange Binance, resigned from his post after being found guilty of violating US anti-money laundering laws. According to reports, as part of the agreement, Zhao will not be allowed to take any management positions at the company for the next three years. Changpeng ZhaoBinance’s head of global regional markets, in his announcement via X Richard Teng will take over as CEO. explained.

I’m pleased to announce that our former Global Head of Regional Markets, @_RichardTeng, has been appointed as the new CEO of Binance today. Richard is a highly qualified leader and, with over three decades of financial services and regulatory experience, will lead the company through its next period of growth. He will enable Binance to deliver on our next phase of security, transparency, compliance and growth.

Who is Richard Teng?

Binance Richard Teng, a long-time executive at the company, was appointed global president of regional markets earlier this year.

According to Zhao’s tweet, before joining Binance, Richard served as CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM); He served as Chief Regulatory Officer at the Singapore Exchange (SGX) and as Director of Corporate Finance at the Monetary Authority of Singapore. “With Richard and the entire team, I am confident that the best days are ahead for @Binance and the crypto industry,” Zhao commented.

In his post on X, Richard Teng signaled that he will begin his role as Binance CEO with “honor and deepest humility.”

We operate the world’s largest cryptocurrency exchange by volume. The trust placed in us by our 150 million users and thousands of employees is a responsibility that I take seriously and value. With the support of CZ and our leadership team, I accepted this role so that we can continue to meet and exceed our stakeholders’ expectations while achieving our core mission of monetary freedom.

Richard Teng stated that he is aware of the crisis and lack of trust in the industry and said: “The foundation on which Binance stands today is stronger than ever. “To ensure a bright future, I plan to use everything I have learned over the past three decades of financial services and regulatory experience to guide our exceptional, innovative and committed team.” added his comment.

Teng said, “My focus is 1) reassuring users that they can be confident in the financial strength, safety and security of the company; “2) collaborating with regulators globally to maintain high standards that encourage innovation while providing important consumer protections; and 3) working with partners to drive the growth and adoption of Web3.”

In his article about Richard Teng’s appointment, Zhao also explained that the company “will be ready with his past knowledge as a shareholder and former CEO” and “will provide consultancy when necessary in accordance with the decisions taken by US officials.” However, CZ underlined that he did not feel ready to establish a new venture.


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