Cryptocurrency exchange Binance appointed industry veteran Richard Teng as its new CEO this week after founder Changpeng Zhao (CZ) stepped down and pled guilty to criminal charges in the US.
The leadership change comes as Binance faces intense legal scrutiny and aims to boost trust with users and regulators.
Keypoints
- Richard Teng appointed as new CEO of Binance after Changpeng Zhao steps down and pleads guilty to criminal charges
- Teng has over 30 years of experience in financial services and regulation, including roles at Abu Dhabi Global Market and Singapore Exchange
- Binance faces legal issues in the US related to money laundering laws, unlawful money transmitting, and sanctions breaches
- Teng aims to boost confidence in Binance, work with regulators, and drive Web3 adoption as key priorities
- Analysts say crypto regulation is important and will be a focus with Teng as CEO
Teng is a former top executive at Abu Dhabi…
