“Is now the time for Binance to rise again?”
Cryptocurrency exchange Binance has finally announced its first Board of Directors after facing several regulatory challenges including a $4.3 billion settlement with the United States (US) Department of Justice (DOJ).
Reportedly, Binance now has seven board members where Richard Teng is the new Chief Executive Officer (CEO) after Changpeng Zhao (CZ) resigned while Heina Chen, Jinkai He and Lilai Wang are executives at the crypto exchange.
The other three are external members namely Gabriel Abed who serves as the ambassador of Barbados to the United Arab Emirates (UAE) then Arnaud Ventura who is a managing partner at investment firm Gojo & Co and the CEO of Bayview Acquisition Corp named Xin Wang.
Through observation, their appointment has been effective since March 7, 2024 which undoubtedly has seen some of the most significant adjustments made since Teng became CEO of Binance in November 2023.
In addition to highlighting the continued investment in product safety and sustainability as well as supporting financial freedom at the global level, Teng also assured consumers that similar irregularities will not occur following efforts to improve compliance.
As part of his lofty goals, the Binance CEO also plans to establish more corporate structures including naming his headquarters and board of directors.
As Binance celebrates its new board of directors, CZ also launched its new project Giggle Academy which focuses on offering free basic education to children in different jurisdictions.
