Can Richard Teng Lead Binance Post CZ’s Exit Amidst Regulatory Hurdles? 💛
#RichardTeng took over as CEO of Binance after Changpeng Zhao's settlement with the US Department of Justice, pledging to drive growth and uphold a user-centric approach.
Amid uncertainties about managing Binance's operations post-Zhao, Teng aims to navigate #regulatory oversight.
Despite concerns, within 24 hours of the settlement, no significant fund withdrawals occurred, with Binance's holdings surpassing $65 billion.
Zhao's guilty plea involves a $150 million payment, while Binance faces around $4.3 billion in #penalties . Teng, now at the helm, faces the challenge of leading Binance amidst evolving regulatory landscapes.