Richard Teng, Binance\u2019s former global head of regional markets and now CEO, announced his intention to drive growth at the crypto exchange following Changpeng \u201cCZ\u201d Zhao stepping down.<\/p>\n
In a Nov. 27 blog post, Teng said he had the support of CZ and Binance\u2019s leadership following the former CEO\u2019s departure as part of an agreement with United States officials. According to Teng, Binance plans to continue a user-focused approach to its business and \u201cdrive growth and the adoption of Web3,\u201d assuring customers they will hear more from him soon.<\/p>\n
\u201cI am eager to jump headfirst into my new role and know there will be many more opportunities for me to share my thoughts with the community through blogs like this one, through my social media accounts \u2014 Twitter, LinkedIn \u2014 and through the many industry conferences and events around the world,\u201d said Teng.<\/p>\n
It\u2019s unclear how Teng will manage Binance\u2019s business as it balances U.S. oversight with a well-known figure like CZ moving out of its leadership. On Nov. 22, blockchain analytics firm Nansen reported that there didn\u2019t appear to be a\u00a0\u201cmass exodus of funds\u201d 24 hours after the U.S. settlement with Binance, with the exchange\u2019s\u00a0total holdings increasing to more than $65 billion.<\/p>\n