Get the latest tech news
Binance Moved Fast, Broke Things—and Paid the Price. Richard Teng Is Cleaning Up
After former Binance CEO Changpeng Zhao went to prison, Richard Teng set out to show that the crypto exchange is now on its best behavior.
The plea formed part of a sweeping settlement agreement with the US Department of Justice that brought an end to years of speculation about criminal wrongdoing at Binance. Formerly a regulator by trade in Singapore and the United Arab Emirates, Teng has tried to remodel Binance from a rule-bending upstart with an inscrutable corporate structure and no global headquarters into something more of an open book. Meanwhile, as Binance’s largest shareholder, CZ continues to wield influence on decisions that affect the company, potentially limiting the scope of any changes that Teng can make.
Or read this on Wired
