On May 29, Binance announced the appointment of Richard Teng to oversee all of its regional markets outside of the United States to better comply with different regulators.
Since joining Binance in August 2021 as the Singapore CEO, Teng has experienced a rapid ascent within the organization, with the exchange looking to capitalize on his leadership abilities and industry expertise. Teng will now oversee operations in Asia, Europe, the Middle East, and North Africa.
This increased scope of responsibility for Teng comes at a time when Binance and its CEO and co-founder, Changpeng Zhao, are facing increased scrutiny from regulatory authorities in the United States due to concerns over compliance issues. However, Binance’s focus on expanding its presence in regions outside the United States remains strong.