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Binance ceo stepping down11/25/2023 ![]() The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". ![]() The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category. These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. Find out more:īitcoin at an Inflection Point? Here’s What Analysts are Saying Business Over Regulatory FearsĪfter weeks of lackluster price movements, data indicates Bitcoin is at an inflection point. Find out why:īinance’s CZ to Reduce Stake in U.S. Zhao is planning to reduce his stake in Binance.US. Decisions over the crypto exchange’s leadership could have broader implications on the crypto markets. Zhao is yet to step down as Binance’s CEO.īinance is the world’s largest crypto exchange by volume.The discussions come as the crypto exchange continues to face increased scrutiny from regulators, particularly in the U.S., where Zhao is named in a Commodities Futures Trading Commission lawsuit for allegedly violating derivatives laws.īinance’s leaders believe Teng has the pedigree to soothe the crypto exchange’s strained relationship with regulators. On Monday, June 5, citing sources familiar with the matter, Bloomberg reported that Teng is favored to take over as CEO of Binance should Zhao decide to yield the position. He was appointed head of regional markets in May after serving as head of Asia, Europe, the Middle East, and North Africa. Though hopes of securing a license in Singapore failed to materialize, Teng has continued to rise at Binance. CZ’s Successor?Īccording to Binance CEO Changpeng “CZ” Zhao, it took only two weeks to decide to hire Teng as Binance Singapore’s CEO. With over 26 years under his belt in market regulations, Binance’s decision to hire him was a no-brainer, even as he is now reported to be next in line to take over the reins of the crypto behemoth. Under Teng’s leadership, the ADGM’s financial services regulatory arm implemented several key initiatives previously not seen in the region, such as FinTech regulatory sandbox, rules for digital asset exchanges, and digital banking. In his six-year stint at ADGM, Teng is hailed for bringing the free trade center into the limelight, helping it to clinch awards like “Top IFC in MENA” for four consecutive years, “FinTech Regulator of the Year (MENA)” and “Best IFC (EMEA).” In 2015 he stepped out of Singapore, taking a position as the chief executive officer of Abu Dhabi Global Market (ADGM). Teng’s stint at SGX spanned seven and a half years. At SGX, he led a team that worked closely with MAS to ensure transparency and fairness in Singapore’s stock markets. Singapore Exchange (SGX)Īfter a long stint at MAS, Teng joined Singapore Exchange (SGX) as chief regulatory officer. Teng left MAS for Singapore Exchange in 2007.
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