PANews reported on August 22 that according to CoinDesk, Binance's new CEO Richard Teng said that due to the company's good financial situation, an initial public offering (IPO) is not currently being considered. Since taking over as CEO from founder Changpeng Zhao (CZ) last year, Teng has focused on transforming Binance into an institution led by a board of directors and plans to find a permanent headquarters for it. Teng emphasized that the company is committed to building better relationships with global regulators to ensure long-term development in the future. In addition, Teng confirmed that CZ is no longer involved in the company's daily operations, although CZ's partner He Yi still plays an important role in the management team.
