- It could be Richard Teng
- He was formerly head of Singapore’s Central Bank
- Changing the board would help the crypto exchange solve reputation problems
The crypto exchange Binance has been in a string of setbacks recently. Among the recent ones is the termination of work in Australia and the investigation in that country. The company cannot find common ground with regulators and is often the subject of various rumors in the media.
According to Bloomberg, the stock exchange is considering changing its CEO as one of the ways out.. Changpeng Zhao could be replaced by Richard Teng. A decision has not yet been made, but it has been increasingly discussed recently, insiders said.
Richard Tan, 52, is from Singapore.. A man devoted two years of work to the company. In late May, Binance appointed him head of all regional markets outside the U.S.
“Working closely with policymakers, regulators and industry players, Richard focuses on supporting our growth in a compliant and sustainable manner.”
Before joining the crypto business, Teng worked at the Monetary Authority of Singapore, the city-state’s central bank. His first position on the stock exchange was CEO of the Singapore branch. He helped the company obtain a license and work closely with local regulators.
Teng had a total of nearly 20 years of government service.
The crypto exchange has neither denied nor confirmed plans to change CEOs.