Binance CEO Richard Teng Advocates for Remote Working

According to Binance CEO Richard Teng's opinion piece, five years after COVID-19 ignited a remote work revolution, the tide is turning.

Companies that once championed flexibility, like Amazon and X (formerly known as Twitter), are now calling employees back to the office.

For many, this shift aligns with their foundational structures—built on in-person collaboration, where remote work was a temporary necessity rather than a long-term strategy.

Teng penned:

“Remote-first is not a temporary patch for us; it is our foundation as it is for many companies in the Web3 and crypto sector. From the moment Binance was established in 2017, it was designed as a global, remote-first organization, a model tailored to the demands of an industry that never sleeps. Operating in the borderless world of crypto, where markets function 24/7 and our users span every corner of the globe, a remote-first model is not just reasonable – it's essential.”

Yet, Teng sees a different future.

He believes remote-first work will move beyond a niche approach, becoming the norm as industries and talent markets evolve.

Companies mandating office returns today may soon find themselves once again adapting—this time to a world where remote work is the standard, not the exception.

Being Remote-Friendly Works Well for Binance

Based on what Teng mentioned, cryptocurrency is inherently global and decentralised, operating 24/7 without a fixed geographic or temporal hub.

The crypto and Web3 industries thrive on agility, making remote work a natural fit.

Teng wrote:

“Binance's remote-first model aligns perfectly with these demands, enabling us to serve users in over 100 countries without the overhead of maintaining sprawling physical offices. Our entire workforce of more than 5,000 employees working from nearly 100 countries are remote first.”

He stated that a Stanford University study found that remote work boosts productivity by 13%, reduces turnover, and saves companies an average of $11,000 per employee annually through lower office costs and increased efficiency.

This model enables Binance to remain lean and agile while empowering teams with autonomy to drive innovation.

Where regulatory approvals permit, Binance also adopts a hybrid approach, maintaining physical hubs in key locations like Dubai and Paris.

These offices facilitate regulatory engagement and in-person collaboration while preserving the benefits of a distributed workforce.

Balancing global operations with local compliance is critical, and Binance integrates jurisdictional requirements without compromising flexibility.

Teng continued:

“Efficiency does not come automatically in a remote-first setup. It requires deliberate systems, strong culture, and the right tools. At Binance, we place immense emphasis on hiring the right people: self-driven individuals who thrive in a fast-paced, decentralized environment. We provide them with the tools and resources to succeed, whether it's cutting-edge collaboration platforms or flexible budgets to execute their goals.”

He detailed that maintaining a cohesive culture across a dispersed workforce is one of the biggest challenges—but also an area where Binance excels.

The company fosters a shared culture centered on user focus, mutual respect, direct communication, and a relentless commitment to innovation.

Regardless of location, employees are unified by core principles: zero discrimination, a strong user-first ethos, and a drive to push boundaries.

Technology plays a vital role in enabling seamless communication and collaboration across time zones.

However, challenges persist Teng admits.

Synchronous collaboration can be difficult, and fostering belonging in a remote environment requires deliberate effort.

Binance addresses these by refining asynchronous workflows, investing in team-building initiatives, and creating opportunities for virtual and in-person connections where possible.

Remote Working Should be the Future; Community Seconds Teng's Thoughts

The world is rapidly digitising, reshaping how people live, work, and define freedom.

The traditional five-day office commute is increasingly misaligned with this new reality.

Talent is now global, and companies seeking to attract and retain the best must prioritise flexibility.

Remote-first organisations like Binance are proving the effectiveness of this model, pressuring traditional firms to adapt or risk falling behind.

Many other studies have also delved into the positives of remote work.

AI is also driving this transformation.

As automation takes over routine tasks, the workforce will shift toward creative, strategic, and analytical roles—positions that thrive on autonomy and flexibility.

Companies that embrace remote-first models will be better positioned for the future of work.

However, remote-first does not mean eliminating in-person collaboration.

Hybrid models, blending remote work with periodic face-to-face or virtual engagement, offer a balanced approach—maximising flexibility without sacrificing the benefits of direct interaction.

Teng elaborated:

“At Binance, we have periodic virtual team building events, virtual and in person fun clubs with some teams having regular offsites and our local teams gathering regularly, notably in regions where we hold regulatory approvals. They provide the flexibility employees crave while preserving the human connections that enhance creativity and teamwork.”

Many in the community shares Teng's beliefs as well.

Remote Working is Not for Everyone

While Binance thrives on a remote-first model, this approach is not universally applicable according to Teng.

It suits industries and organisations that prioritise agility, innovation, and global reach.

However, for traditional sectors reliant on in-person workflows or companies shaped by decades of office-centric culture, a full transition to remote work remains challenging—at least for now.

Teng stated:

“Even within the tech sector, there are notable differences. Companies like Amazon that once epitomized innovation have settled into more rigid structures over time, requiring employees to work in the office three days a week and increasing that to five by 2025 while monitoring their in office days, prioritizing control over flexibility. For these organizations, reverting to an office-based model may seem logical. But I believe this approach overlooks the broader trends shaping the future of work.”

Success in a remote-first environment demands a distinct type of professional: self-driven, creative thinkers who excel in autonomous settings.

It also requires organisations to foster a culture built on trust and accountability.

Not every company—or employee—is equipped for this level of independence.

Yet, for those that embrace it, the benefits are undeniable: access to a global talent pool, unmatched flexibility, and the ability to operate at the pace of innovation.

Shifting to Remote-First Work Takes Time But It Will Happen

Remote work is not a one-size-fits-all solution according to Teng.

Industries like healthcare and manufacturing, where physical presence is essential, will always require on-site operations.

However, for many white-collar professions, the potential for remote work is vast.

While the transition would not happen overnight, the trajectory is clear—over time, more organisations will embrace remote-first models as the workforce and technology evolve.

Teng concluded:

“Binance is proud to be at the forefront of this transition. Our remote-first model not only enables us to lead in the fast-paced world of crypto but also sets a standard for what work can look like in the future. By prioritizing flexibility, autonomy, and a global mindset, we are blazing a trail for others to follow. As the world continues to digitize and decentralize, the companies that embrace these principles will be the ones that thrive. At Binance, we're not just building the future of finance – we're building the future of work. And we're just getting started.”

So have you gone back to work in the office or is your organisation like Binance where the remote-first approach is the common practice?