thenewscrypto.com
- Their appointments took effect on March 7, as stated on the ADGM website.
- The Binance CEO mentioned naming the company’s headquarters and board of directors.
Richard Teng, the exchange’s new chief executive officer after Changpeng Zhao’s resignation, is one of seven members of Binance’s board, according to a Bloomberg article.
Binance executives Lilai Wang, Jinkai He, and Heina Chen all have equal board representation. Gabriel Abed, a former ambassador of Barbados to the UAE, Arnaud Ventura, a managing partner at Gojo & Co., an investment business, and Xin Wang, the current CEO of Bayview Acquisition Corp., make up the other three external members.
Building Robust Corporate Structure
Binance Holdings Ltd, a leading cryptocurrency exchange, has appointed its first board of directors after overcoming regulatory hurdles and settling a $4.3 billion lawsuit with the U.S DOJ.
After dealing with regulatory challenges, notably in the U.S, last year, Binance is attempting to reorganize in order to maintain its status as the biggest cryptocurrency exchange in the world. At the time, CEO Changpeng Zhao (CZ) pled guilty to many criminal offenses, including AML and sanctions breaches, involving the exchange.
Their appointments took effect on March 7, as stated on the Abu Dhabi Global Market (ADGM) website. Since Teng took over as CEO of the exchange, these are among the most noticeable changes. Most of his ambitions for Binance revolve upon the exchange’s users, which he praised when he assumed office in November 2023.
The CEO of Binance mentioned naming the company’s headquarters and board of directors as part of his grand ambitions to create a more robust corporate structure.