CZ announced his resignation as CEO of Binance on the X platform, with Richard Teng, former Global Head of Markets at Binance, appointed as the new CEO. Prior to joining Binance, Richard served as CEO of the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority, Chief Regulatory Officer of the Singapore Exchange (SGX), and Director of Corporate Finance at the Monetary Authority of Singapore.
(Source: Richard's Linkedin)
Richard Teng, aged 52, is a Singaporean. He attended Nanyang Technological University in Singapore from 1991 to 1994.
To be honest, he looks younger than 52, perhaps due to his regular exercise routine. Of course, he also is a seasoned person.
(Source: Richard's Linkedin)
After graduating from university in 1994, he became a Singapore civil servant and worked at the Monetary Authority of Singapore (MAS) until 2007, rising to become the Director of MAS Corporate Finance.
During his tenure at MAS in Singapore, Richard Teng continued his self-development. He completed his master's degree at the University of Western Australia in 1998 and graduated from the Wharton School in 2004.
In 2007, Richard Teng left the Monetary Authority of Singapore (MAS) to join the Singapore Exchange (SGX), holding positions as Senior Vice President, Head of Issuers Regulation, and Chief Regulatory Officer.
In March 2015, Richard Teng joined the Abu Dhabi Global Market (ADGM) as its CEO. According to ADGM, under Richard Teng's leadership, the institution gained recognition from global regulatory and industry bodies. For instance, ADGM received the "Best International Financial Centre in the Middle East and North Africa Region" award from the global investment publication "Euromoney" four consecutive times.
Before joining Binance, Richard was actively researching fintech and blockchain and engaging in the Web3 community. It appears that during that time, he had already made the decision to enter the Web3 and crypto industries. He left ADGM in March 2021 and joined Binance in August 2021, serving as the CEO, Singapore of Binance. In November 2023, he officially became CZ's successor.
Before November 2022, Richard Teng was responsible for the Middle East and North Africa markets for almost 11 months. After November 2022, he rapidly advanced within Binance, moving from overseeing Europe and the Middle East and North Africa markets to handling Asia, Europe, and the Middle East and North Africa markets. His latest appointment on May 29, 2023, puts him in charge of all regional markets outside the United States. Richard Teng achieved all these transitions within six months.
(Source: Richard's Linkedin)
Blockchain knows no borders. According to article from PicaPica, Binance's staff hails from 69 different countries or regions, with more than one-third of employees coming from Singapore. This underscores Binance's emphasis on Singaporean talent and those located within the country. With Richard appointed as CEO, it solidifies their affection and confidence in Singapore.
Richard Teng's prestigious background and impressive resume, coupled with global regulatory recognition, undoubtedly qualify him for the CEO role. However, it's also expected that he'll face numerous challenges ahead.
The FTX bankruptcy estate claims SBF’s $1.76 billion repurchase deal with Binance in July 2021 was a fraudulent transfer due to FTX’s insolvency. The lawsuit seeks to recover billions for FTX creditors, alleging the transaction was fraudulent.
KikyoFormer Binance CEO, CZ (real name Changpeng), told Bloomberg that he had received multiple offers from buyers who are willing to offer him a high price to buy his shares in Binance.
XingChiBinance and its former CEO, Changpeng Zhao, are pushing to dismiss the SEC’s amended complaint, arguing that the regulator’s approach to crypto lacks clarity and consistency. Binance claims the SEC's broad interpretation of crypto assets as securities is confusing and unfairly applied.
WeatherlyChangpeng Zhao, founder of Binance, made his first public appearance since his prison release at the Binance Blockchain Week in Dubai, discussing his reflections on his incarceration and future plans. He expressed a renewed appreciation for personal connections, a commitment to education, and intentions to invest in emerging sectors while remaining optimistic about the future of cryptocurrency.
JoyFormer Binance CEO CZ's first tweet after his prison release sparked attention, briefly mentioning future plans and enjoying freedom. BNB surged to a monthly high but quickly reversed, declining along with the broader crypto market.
KikyoBinance founder CZ will be released today, 27 September, two days ahead of schedule, due to his release date falling on a weekend. Will this trigger a rise in BNB’s price?
KikyoBinance is expanding its compliance team by 1,000 employees to address rising regulatory demands, aiming to manage increased costs and scrutiny from U.S. authorities. The company has also prevented $2.4 billion in potential fraud losses this year, highlighting its commitment to enhancing security and regulatory alignment.
AnaisToncoin (TON) surged 12% on Thursday following Binance's announcement of its listing on 8 August at 6PM SGT, with withdrawals available 24 hours later. Will TON breakthrough its upper resistance or test its lower support?
KikyoThe 28th quarterly burn by the BNB Foundation eliminated $971 million worth of tokens, reinforcing the ecosystem’s commitment to reducing total supply and potentially increasing value.
SanyaThe SEC's attempt to classify BNB secondary sales as securities fails, though investigations into Binance’s activities continue.
ZeZhengA statement by US Democratic candidate Harris has attracted the attention of many crypto ecosystem players. She publicly stated that the United States should maintain its lead in many areas, including new technologies such as blockchain.
JinseFinanceAt TOKEN2049 Singapore, Binance CEO Richard Teng discussed leading the company after founder CZ's imprisonment. Despite challenges, he expressed confidence in Binance's future, emphasizing its strong global team and community. Teng highlighted the importance of regulatory compliance as a competitive edge, particularly amidst evolving regulations and growing institutional adoption, such as ETFs.
CatherineReports of Binance freezing all Palestinian crypto wallets have raised alarms, but the platform’s CEO has denied the claims, asserting only specific illicit accounts were affected.
SanyaRichard Teng, who replaced founder Changpeng Zhao in November last year, is playing the long game.
JinseFinanceThe new CEO, Richard Teng, strongly responded, 'There's currently no need to disclose it.' However, Binance co-founder Yi He mentioned that they will soon establish the headquarters and board.
OliveBinance CEO, Richard Teng, recently mentioned in an interview, he pledged that the current Binance is markedly different from its early days, emphasising a focus on compliance.
OliveRichard Teng is the new CEO of Binance, the world's largest cryptocurrency exchange by trading volume. He is a Singaporean businessman, former regulator, and veteran of the financial industry who has a wealth of experience and expertise in the crypto space.
Pr0phetMoggyJinseFinanceJinseFinanceRichard Teng, a former civil servant now in the capacity of a prominent crypto executive, is emerging as a potential ...
Bitcoinist