Who is Richard Teng, Binance’s new CEO?
Richard Teng is taking over as Crypto exchange Binance ’s new CEO, replacing Changpeng Zhao (CZ) after he pled guilty to financial crimes and resigned. Binance has also admitted it violated sanctions, aided money laundering, and engaged in unlicensed money transmission. In the wake of the company’s multiple guilty pleas to US federal crimes, its new chief Richard Teng was quick to say Binance will work to “uphold high standards globally that foster innovation while providing important consumer protections.” Of course, Binance has long promised pretty much the same thing while doing the exact opposite. Teng says he will work to reassure customers that the company is still financially stable despite its record-shattering $4.3 billion penalty amid $800 million and counting of customer outflows. It is an honour and with the deepest humility that I step into the role of Binance’s new CEO. We operate the world's largest cryptocurrency exchange by volume. The trust plac...