Richard Teng has been announced as the new CEO of Binance, the world’s largest crypto company valued at $60 billion, following the abrupt departure of founder, Changpeng Zhao amid murky court charges,
Richard Teng’s appointment was announced by Changpeng Zhao on Twitter. Teng, who takes on the leadership of the company was former Global Head of Regional Markets.
Teng has also acknowledged his new role in a tweet on X. “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 placed on us by our 150m users and thousands of employees is a responsibility that I take seriously and hold dear. With CZ, and our leadership team’s support, I have accepted this role so that we can continue to meet and exceed the expectations of stakeholders while achieving our core mission, the freedom of money.
- “The foundation on which Binance stands today is stronger than ever. To ensure a bright future, I intend to use everything I’ve learned over the past three decades of financial services and regulatory experience to guide our remarkable, innovative, and committed team.
- “My focus will be on: 1) reassuring users that they can remain confident in the financial strength, security and safety of the company 2) collaborating with regulators to uphold high standards globally that foster innovation while providing important consumer protections 3) working with partners to drive growth and adoption of Web3 We are here to stay. Please lend me your support. I am excited for the days ahead!
Richard Teng’s background
Binance CEO Richard Teng brings over three decades of financial industry and regulatory experience to the table. In August 2021, he began working for the firm as CEO of Binance Singapore.
As the former Head of Regional Markets at Binance, he was responsible for all regions outside of the United States.
In order to establish strategic alliances, promote an innovative environment, and develop the Bitcoin ecosystem in each location, Richard oversaw regional teams in this capacity.
Before joining Binance, Richard was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), where he demonstrated his ability as one of the world’s most innovative regulators.
Teng holds a Masters in Applied Finance (Distinction) from the University of Western Australia and a First Class Bachelor of Accountancy from Nanyang Technological University.
His vast experience also includes previous roles as the Chief Regulatory Officer of the Singapore Exchange (SGX) and Director of Corporate Finance at the Monetary Authority of Singapore.
