According to CoinDesk, Binance regional markets head Richard Teng recently stated in an interview that it's too early to say he is being groomed to "succeed CZ as CEO of Binance." His new role simply expands his responsibilities in assisting CZ with reviewing certain matters and does not constitute a promotion. Teng noted that Binance has undergone a significant shift toward compliance, although past issues did exist. The company aims to responsibly work through all policy matters with stakeholders and continue demonstrating that it is now a completely new organization.
A former Binance employee revealed that senior leadership and regulators view Richard Teng as the only leader capable of succeeding Zhao Changpeng and continuing to build the company according to its vision, while also helping bridge the existing gap between the industry and regulators.
Zhao Changpeng publicly stated at the end of July 2021 that Binance had established a succession plan—around the same time the company rehired Teng. Teng initially joined Binance as CEO of its Singapore operations and rose rapidly through the ranks during turbulent times in the digital asset space. Reports indicate that if Zhao Changpeng were to step down due to regulatory challenges, Richard Teng would become the next CEO of Binance.
Richard Teng, 52, is a Singaporean who spent 13 years at the Monetary Authority of Singapore. Starting in 2007, he served as Chief Regulatory Officer at Singapore's securities trading platform, and later held senior positions in the Abu Dhabi Global Market. He joined Binance in May 2021 with a focus on supporting Binance’s growth in a compliant and sustainable manner.
