đ€ Exclusive: Binance CEO Richard Teng on Navigating Challenges, No IPO Plans, and U.S. Market Stance
- đš Teng Replaces CZ: Richard Teng, former regulator from Singapore and UAE, is now the CEO of Binance, following CZâs departure due to a prison sentence. Unlike CZ, Teng emphasizes a decentralized leadership approach, highlighting Binanceâs shift to a board-led structure with independent directors.
- đ No Global HQ Yet: Despite regulatory challenges, Binance has yet to decide on a global headquarters. Teng stresses the importance of considering regulatory and tax implications before making this decision, aiming to reassure regulators of Binanceâs direction.
- đ Global Operations Complexity: Running Binance globally involves navigating different jurisdictions with varying regulations. Binance holds 19 licenses worldwide, including recent approvals in Thailand, India, and Brazil. In Nigeria, American employee Tigran Gambaryan is detained, accused of money laundering, with Teng advocating for his release and medical treatment.
- đ No IPO Plans: Unlike other crypto giants, Binance isnât planning an IPO. Teng confirms the companyâs strong financial health and profitability since 2017, with no current need for fundraising.
- đșđž U.S. Market Stance: While the U.S. remains an important market, Binance has no immediate plans to return, focusing on its global operations. Teng remains interested in U.S. developments but notes that they donât currently impact Binanceâs business.
â ïž Note: The opinions expressed are those of the author and do not necessarily reflect CoinDeskâs views.
