![]() ![]() Even Dubai, Zhao’s adopted home and widely regarded as a freelance crypto hub, has tightened scrutiny of license applicants, including Binance. At least four US federal agencies are investigating or bringing enforcement action against it, and regulators in Canada and Australia are reviewing its business. ![]() His resume shows a master’s degree in applied finance from the University of Western Australia.īinance still processes more transactions than all the other top centralized crypto exchanges combined, but its position has always been challenging. After that, he worked for six years at Abu Dhabi Global Markets. barring it from undertaking any regulated activity. Previously, the US Commodity Futures Trading Commission sued Binance and Changpeng Zhao for allegedly violating derivatives regulations in late March and accusing them of “artificial” compliance.Īccording to the report, Richard Teng’s senior position at the central bank of Singapore and the Abu Dhabi International Free Trade Zone makes him an ideal candidate to help guide Binance through regulatory difficulties.Īccording to Richard Teng’s LinkedIn profile, he worked for the Monetary Authority of Singapore for 13 years until 2007. Binance CEO Changpeng Zhao said the company is 'not shunned elsewhere' and that theres 'more to come.'. The issue of succession has become more pressing as US regulators have increased scrutiny of Binance in recent months. Binance did not respond to a request for succession comment. ![]() Sign up today and buy your first crypto in as little as 2 minutes. Join millions of traders on the best crypto platform for low fees. Should Changpeng Zhao step down, Richard Teng would be a popular candidate to take the position of chief executive, according to people familiar with the matter. Use Pay on the Binance.US app to send, request, and receive crypto instantly with zero transaction fees. ![]()
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