Binance, the biggest cryptocurrency exchange in the world, is about to embark on a new section of its history with Richard Teng serving as its Chief Executive Officer. Changpeng Zhao, the creator of Binance, made the announcement on this consequential shift in leadership. Not only does Teng’s appointment come at a vital moment for the exchange, but it also marks a new direction in the administration and strategy of the exchange.
There is a striking coincidence between the selection of a new CEO and the departure of Changpeng Zhao, sometimes known as “CZ,” who was leaving under extraordinary circumstances. After pleading guilty to violating anti-money laundering rules in the United States, Zhao resigned from his position. A massive $4.3 billion settlement with United States authorities was reached as a result of this plea, making it one of the highest corporate fines in the history of the United States. Following closely on the…
