Binance’s new CEO, Richard Teng, shares his vision for the future of the exchange and discusses the responsibility of leading a team and maintaining the trust of over 160 million users.
Moving Beyond Binance’s ‘Missteps’
In a post on Binance’s website, Teng describes the company’s growth and evolution, acknowledging past mistakes and learning from them as they transition into a more traditional financial company.
— Richard Teng (@_RichardTeng) November 27, 2023
Teng also addresses the need for Binance to focus on compliance and regulation to address concerns about fraud and deception in the crypto industry, marking a significant departure from its historical identity.
Taking Strides in Web3 and Regulation
Teng aims to advocate for harmonized global rules for the crypto industry, drawing on his experience advising central banks and financial centers. He emphasizes the importance of transparency for auditors and regulatory compliance once Binance transitions to a more conventional financial company.
### News source: cryptopotato.com