Richard Teng has emerged as the new CEO of the leading cryptocurrency exchange Binance during a challenging period for the company. With his extensive management experience and regulatory knowledge, he is guiding Binance toward a more transparent and sustainable future.
Richard Teng: Background and Career
Born in Singapore in the 1970s, Richard Teng holds a Master’s degree in Applied Finance and a Bachelor’s in Accountancy.
Before joining Binance, he held senior positions at the Monetary Authority of Singapore and the Singapore Exchange, focusing on regulatory compliance within financial markets.
Journey to Global CEO Position
In 2021, Teng became the first CEO of Binance Singapore and was later appointed the regional head for the Middle East and North Africa. By late 2023, he was named global CEO of Binance following the resolution of regulatory issues involving founder Changpeng 'CZ' Zhao.
Under his leadership, the company has started implementing reforms aimed at regulatory compliance and rebuilding trust.
Ethics, Regulation, and Market Trust
Teng emphasizes proactive engagement with regulators and investor protection. He believes that the crypto industry must collaborate with governments and international observers to establish clear legal frameworks.
Under his leadership, Binance has begun publishing transparency reports and conducting internal compliance reviews, demonstrating that major crypto exchanges can operate with the same rigor as traditional financial institutions.
Richard Teng represents a new era for Binance, focusing on sustainable and legal business practices. His expertise and approach are helping to restore trust in centralized exchanges amid the volatility of the crypto industry.
