New CEO in Town BINANCE
The new CEO, Richard Tang, serving as Zhao's replacement, highlighted the evolving nature of the digital currency market, noting a significant maturation. "The crypto industry has shifted from being primarily driven by early adopters to adoption by the majority," Tang stated. This transition is reflected in the expanding user base of Binance and the quantity of assets under management, indicating increasing trust in the platform globally and diversity from users.
The rapid growth of the exchange can be attributed to its unique user experience and wide range of services, along with strong security measures, which have kept it as a reliable platform over the years.
The recent hurdle passed - compliance commitment was problematic and posed the main issue for the exchange, which, a few months ago, faced various allegations (terrorist financing, money laundering, etc.) and underwent a joint investigation by the U.S. Department of Justice along with other regulatory bodies, resulting in an indictment, imprisonment of the CEO (and founder) Changpeng Zhao, personal fines, and a fine of over $4 billion for the exchange itself
