The co-founder of Binance confirmed plans to transform the crypto exchange

Bitcoin exchange Binance will open its headquarters and create a board of directors “as soon as possible.” This was stated by the co-founder of the company He Yi.

Previously, the new CEO of Binance, Richard Teng, promised to transform the cryptocurrency exchange and introduce a traditional corporate structure. The latter presupposes a board of directors, headquarters and financial transparency, he said.

On November 21, Teng took over as CEO of Binance instead of company founder Changpeng Zhao (CZ), who left the post as part of a deal with the US Department of Justice. The platform also agreed to pay $4.3 billion in fines. #BTC