Binance confirms resolution with DoJ, FTC, other orgs; Richard Teng succeeds CZ as CEO
- Today we are pleased to inform you that we've reached resolutions with the U.S. Department of Justice, Commodity Futures Trading Commission, the Office of Foreign Assets Control, and the Financial Crimes Enforcement Network related to their investigations into historical registration, compliance, and sanctions issues. These resolutions acknowledge our company's responsibility for historical, criminal compliance violations, and allow our company to turn the page on a challenging yet transformative chapter of learning and growth. With the compliance and governance enhancements enshrined in our commitments, we can begin to share our vision for Binance's exciting future and the future of the crypto industry. We are confident that Binance will emerge as a stronger company as we lay the foundation for the next 50 years.
- Effective immediately, Richard Teng, Binance's now-former Global Head of Regional Markets, succeeds CZ as CEO. Richard is a highly qualified leader and, with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth. Prior to joining Binance, Richard was the CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market; the Chief Regulatory Officer of the Singapore Exchange (SGX), and the Director of Corporate Finance in the Monetary Authority of Singapore.