Today, I am stepping down as CEO of Binance. Admittedly, it is not easy to let go emotionally. But I know I do. I was right to make a mistake, and I must take responsibility. This is what is best for our community, Binance, and myself.
Binance is no longer a baby. It’s time for me to let it go and run. I know Binance will continue to grow and stand out with its strong backing.
I’m excited to announce that our current former Global Head of Regional Markets, @_RichardTeng, has been appointed as the new CEO of Binance today.
Richard is a highly qualified leader with over three decades of financial services and regulatory experience who will lead the company through its next period of growth. He will ensure Binance achieves its next phase of security, transparency, compliance, and growth.
Prior to joining Binance, Richard served as CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM); Chief Regulatory Officer at Singapore Exchange (SGX); and Director of Corporate Finance at the Monetary Authority of Singapore.
Together with Richard and the entire team, I believe the best days for @Binance & the crypto industry are ahead.
As a shareholder and former CEO with knowledge of our company’s history, I will be on hand to provide the team with necessary counsel, consistent with the framework set out in our U.S. agency resolution.
What should I do next?
I'm going to take a break. I haven't really taken a day off (turned off my phone) in the past six and a half years.
After that, my current thinking is that I might do some passive investing and become a minority token/shareholder in startups in the blockchain/Web3/DeFi, AI, and biotech space. I’m glad I finally have more time to study DeFi.
I can’t imagine myself ever again being a CEO driving a startup. I’m content to be a one-time (lucky) entrepreneur. If there’s an audience, I might be willing to serve privately as a coach/mentor to a handful of upcoming entrepreneurs. If nothing else, I can at least tell them what not to do.
At this point, I am proud to point out that in our resolution with the US agencies, they:
- Binance cannot be accused of misappropriating any user funds, and
- Do not accuse Binance of engaging in any market manipulation.
Financial security!
I therefore look forward to seeing the new leadership come in. Please join me in congratulating Richard on his well-deserved promotion.
forward!
Czech Republic
