![]() He later spent six years as the CEO of Abu Dhabi Global Market before joining Binance.īinance stands as the largest cryptocurrency exchange platform globally, enabling users to carry out various digital currency transactions such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), among others. Teng worked for 13 years at the Monetary Authority of Singapore before joining the Singapore stock exchange as the chief regulatory officer. ![]() In late May, Zhao appointed him as head of all regional markets outside the US, a position that has made Teng a likely successor to CZ, should he relinquish his position, reported Bloomberg. Why It Matters: Teng has played a significant role in Binance’s expansion into various regions and regulatory milestones. Teng initially joined Binance as CEO of the Singapore business, and quickly rose through the ranks during a turbulent period in the digital assets sector. See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’ At the time, the crypto exchange said it withdrew its license because it. He has since been given oversight of Europe, the Middle East, North Africa and Asia. Binance withdrew its crypto license application in December 2021, closin all operations in the country by February 2022. ![]() Teng joined Binance in August 2021 as Singapore CEO after a meteoric rise to his current position in less than two years. ![]() What Happened: CZ is currently facing mounting regulatory scrutiny from US federal agencies, as well as regulators in Canada, Australia, and Dubai. Richard Teng, a 52-year-old civil servant-turned-crypto executive who is currently the head of all regional markets outside the United States for Binance is reportedly a possible heir to Binance’s embattled CEO, Changpeng “CZ” Zhao. ![]()
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