The crypto exchange has undergone a significant leadership transition in the aftermath of Binance Holdings’ $4.3 billion settlement with the US Department of Justice (DOJ). 

According to Bloomberg, Richard Teng, the newly appointed CEO following co-founder Changpeng “CZ” Zhao’s departure, has expressed his commitment to maintaining the stability of the core team. 

Binance’s Core Team Unaffected By Leadership Change

Richard Teng assumed the role of Binance CEO after CZ Zhao was compelled to step down as part of the settlement with the DOJ. Teng affirmed that the core team at Binance remains intact, underlining its importance for the company. 

Per the report, this assurance aims to alleviate concerns about potential disruptions amid the leadership transition and signifies Teng’s intent to maintain continuity within the organization.

The settlement with the DOJ marked a significant milestone in the exchange’s efforts to address regulatory concerns. The company and its co-founder admitted to violations related to anti-money laundering (AML) and sanctions.

As reported by Bitcoinist, as part of the plea agreement, CZ will be banned from any formal involvement with Binance for the next three years and could face up to 18 months in prison. However, Zhao will retain a significant ownership stake in the company.

In addition, the exchange has experienced several senior-level departures throughout the year, including key executives from its A

Go to Source to See Full Article
Author: Ronaldo Marquez

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details