Posted 12/3/2023, 10:52:01 PM
Binance Turns Over New Leaf with $4.3B Settlement, Beefed Up Compliance Under New CEO
- Binance CEO Richard Teng says past "gaps in compliance" are in the past and the exchange is now "totally different" after $4.3B settlement with U.S.
- Settlement was for historical compliance issues, but Teng says user funds/security have remained "sacrosanct"
- Binance building out regional HQs in UAE and France to focus on compliance and institutional adoption
- Teng brings financial/regulatory background to lead Binance in "maturing company" that's much changed from 6 years ago
- Despite stepping into CZ's shoes as CEO, Teng says he can bring his own expertise to table with board oversight