Richard Teng named as possible candidate to lead Binance
Richard Teng named as possible candidate to lead Binance
Richard Teng, the head of Binance Middle East and North Africa, could take over the position of Binance CEO Changpeng Zhao if he steps down.
The question of who will take over as the new head of Binance comes as U.S. regulators tighten their grip on one of the world's largest cryptocurrency exchanges. The U.S. Commodity Futures Trading Commission filed a lawsuit against Binance and Changpeng Zhao in late March, alleging that the exchange violated derivatives regulations.
According to Bloomberg News, if Changpeng Zhao resigns, Richard Teng has the best chance of taking over as CEO of Binance.
Richard Teng has thirteen years of experience at the Monetary Authority of Singapore and six years of experience at Abu Dhabi Global Markets, as well as a master's degree in applied finance from the University of Western Australia, which sets him apart from any candidate who could overcome regulatory difficulties at Binance.
The Commodity Futures Trading Commission reported that Binance and Changpeng Zhao knowingly ignored registration and compliance requirements under U.S. federal law, resulting in a series of lawsuits against them in late March alleging insider trading and evasion of KYC oversight.
We previously reported that Changpeng Zhao hosted an AMA Twitter session where he discussed the prospects for Binance.
Binance is one of the most popular cryptocurrency exchanges, with its own platform based on the TradingView toolkit. The exchange gives its clients access to more than 400 cryptocurrencies, of which more than 25 percent are stablecoins used for conversion transactions.
