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Who is Richard Teng?

Background

Richard Teng, former CEO of Abu Dhabi Global Market, assumed the role of CEO at Binance on November 21, succeeding Changpeng Zhao. Zhao's resignation and guilty plea to criminal charges were part of a $4.3 billion settlement

with the US Department of Justice.

Career Progression

Teng, based in Singapore, initially joined Binance as CEO of the city-state in August 2021. His responsibilities expanded, becoming Binance's regional head for Europe and Mena in November 2022 and head of regional markets in May 2023.

Regulatory Background

With a regulatory background, Teng began his career at the Monetary Authority of Singapore in 1994, holding the position of director of corporate finance. After approximately 13 years, he joined the Singapore Exchange as chief regulatory officer in 2007. In March 2015, Teng became the CEO of Abu Dhabi Global Market.

Executive Landscape

Teng stands out as one of the few senior executives who remained with Binance despite challenges. The US Securities and Exchange Commission filed 13 charges against the crypto exchange and its founder, leading to the departure of Binance's chief strategy officer Patrick Hillmann and senior vice president for compliance Steven Christie in July.

Company Confidence

Despite executive changes and regulatory scrutiny. Teng expressed confidence in Binance's foundations. In a LinkedIn post, he emphasized his focus on reassuring users about the company's financial strength, security, and safety, while also collaborating with regulators.

Binance Overview

Founded in 2017, Binance retains its status as the world's largest crypto exchange, boasting approximately 150 million users.

#Richard Teng

RICHARD TENG

BINANCE

25-11-2023 8.02 (UTC+0)

CEO

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