Richard Teng Desires a Compliance-Focused "Binance 2.0": KBW2024
Among Binance CEO Richard Teng's major promises were to put users first, back international regulatory frameworks, and form partnerships with organizations all over the world.
He made the announcement at the Korea Blockchain Week 2024, noting that Binance has around 20 million users, with the second 100 million expected in two years. According to him, Binance's 24-hour trading volume is $9.7 billion, whereas Coinbase's is only $1 billion.
Teng emphasized Binance's significant investment in compliance while highlighting the exchange's accomplishments. Additionally, he said that the exchange's goal is to transform this platform into a thriving and long-lasting resource for people all around the world.
"In that regard, we are currently in the midst of the game," Teng pointed out. In light of this, we are overjoyed to see fresh deployments, initiatives, use cases, and usefulness.
Changpeng Zhao (CZ), the former CEO of Binance, "is a very dynamic leader," according to Teng.
"I am deeply grateful and humbled that CZ and the other leaders have placed their trust in me to successfully lead Binance's transition into Binance 2.0."
Binance 2.0 has taken a very different direction since CZ was CEO, despite the fact that he remains a major stakeholder and co-founder of Binance.
As Teng responded to a panel question, "Now Binance has a totally different corporate structure.".
