Meet Richard Teng, the New CEO of Binance

Crypto world rattled by sudden exit of Changpeng "CZ" Zhao as Binance CEO

Cryptocurrency sphere was shaken by the abrupt departure of Changpeng "CZ" Zhao. The burning question on everyone's mind now is, who is the new captain steering the ship at Binance?

Let's delve into the rise of Richard Teng, the freshly appointed leader.

Hailing from Singapore, Mr Teng joined the ranks of the world's largest crypto exchange just over two years ago, initially assuming the role of CEO for his Binance, Singapore.

This pivotal period coincided with Binance facing a rigorous Justice Department investigation.

As regulatory pressures intensified on both the company and Mr Zhao, Teng swiftly ascended through the ranks, orchestrating in the background.

A glance at his LinkedIn profile reveals a dynamic career trajectory. Holding the position of Binance, Singapore CEO for a mere five months, Teng's career trajectory soared as he secured the role of Regional Head for Europe, Asia, and the Middle East and North Africa in April 2023.

This ascent continued as he transitioned to become the Head of Regional Markets in May, culminating in his recent appointment as the head of Binance.

Mr Teng brings a wealth of experience to the forefront. Before stepping into the crypto realm, he navigated the traditional financial and regulatory sectors.

His roles included Director of Corporate Finance at the Monetary Authority of Singapore (MAS) and Chief Regulatory Officer at the Singapore Exchange (SGX).

Prior to his tenure at Binance, Teng undertook pivotal roles in the international financial landscape.

He assumed the role of CEO at the Abu Dhabi Global Market (ADGM), a significant financial centre in the United Arab Emirates.

#RichardTeng #binanceczresign

Sam Altman remains at Worldcoin's developer while he may return to OpenAI.

Sam Altman, ousted CEO of OpenAI, appears to be keeping his job at Tools for Humanity, the company behind Worldcoin, as negotiations regarding his return to OpenAI reportedly continue. Tools for Humanity's website lists Altman as the co-founder and chairman of the project, and a spokesperson confirmed that the website remains a current indicator of his position.

Worldcoin's WLD token initially fell upon the news of Altman's ouster from OpenAI, though its price has recovered from $1.83 to $2.40, according to The Block's Price Page.

Worldcoin's price graph in the last two days according to The Block's data.
Worldcoin aims to build a global network by distributing tokens to participants who agree to have their retinas scanned by an orb-like device, thus verifying, in theory, that each person on the planet has one and only one Worldcoin account. Since launch, nearly 40 million WLD tokens have been distributed to users, according to data from Worldcoin. Tools for Humanity raised $100 million in March 2022 at a $3 billion valuation and a further $115 million in May 2023

#WorldcoinRise #BinanceSquareInsight

Solana Bullish as SOL Reaches $60 First Time Since May, But Initial Retracement to This Level Is Possible

According to crypto analytics firm Santiment, Solana has seen a significant leg up in market value this weekend, with traders pushing prices above $60 for the first time since May 2022. Santiment notes Solana FOMO has picked up markedly, with positivity at its highest level in over a year.

$61 Resistance Tapped
Crypto analyst Rekt Capital points out Solana also tapped the $61 resistance level, even overextending beyond it. Rekt Capital believes it would be entirely healthy for Solana to pullback to $42 after this surge. Generally, a monthly close above $60 would be bullish and could invalidate a downward path.

Accumulation Breakout Signals

The move as a beautiful low timeframe accumulation breakout for Solana. I think Solana just put in a running flat correction and is ready to head towards new highs next.

#sol #SOLPriceRise

$BINANCE TAKES SECURITY MEASURES:

DELISTS 15 TRADING PAIRS

Binance, the world’s largest cryptocurrency exchange, has announced the delisting of 15 Russian ruble trading pairs, including popular cryptocurrencies like Ripple (XRP), Cardano (ADA), and Solana (SOL). The decision, set to take effect one end of november , is attributed to security concerns and low liquidity in these trading pairs. This move aligns with Binance’s strategy to exit the Russian market and underscores its compliance-focused approach.

Security and liquidity concerns prompt delisting
Binance‘s decision to remove these trading pairs comes as a measure to enhance security for its clients. The exchange cited concerns related to the trading pairs’ liquidity and trading volumes as primary reasons for their delisting. Binance has indicated that it may continue to delist trading pairs in the future if they exhibit poor liquidity and trading activity.

In addition to addressing security concerns, this move could also be seen as part of Binance’s broader plan to cease Russian ruble deposits. Earlier, the exchange had entered into an agreement to sell its entire Russia-based business to the cryptocurrency platform CommEX. Binance’s Chief Compliance Officer, Noah Perlman, emphasized that operating in Russia was no longer aligned with the exchange’s compliance strategy.

“As we look toward the future, we recognize that operating in Russia is not compatible with Binance’s compliance strategy. We remain confident in the long-term growth of the Web3 industry around the world and will focus our energy on the 100+ other countries in which we operate,” stated Noah Perlman.

Binance delisting atcoins and crypto price impact
The delisting of these trading pairs has had a notable impact on the prices of XRP, ADA, and SOL in the cryptocurrency market. Over the past 24 hours, XRP’s price has seen a 5% decline, with an 8% drop over the last week. ADA has also slipped by 6%, while SOL has experienced a more substantial decline of 10%.

#Binance

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