Good Smart Sinki Teng will demostrate to the world on Binace is here to stay de woh, as its new CEO

[k1976]

Richard Teng: Who is the new boss of Binance?​

Mariko Oi - Business reporter
Wed, 22 November 2023 at 3:03 pm SGT

Mr Teng joined the world's largest crypto exchange just over two years ago

The sudden resignation of Changpeng "CZ" Zhao has shocked the crypto world. But who is the new boss of Binance, Richard Teng?
A native of Singapore, Mr Teng joined the world's largest crypto exchange just over two years ago as the chief executive of Binance's Singapore business.

That was the year when Binance came under a Justice Department investigation, and as regulatory scrutiny of the company and Mr Zhao intensified, Mr Teng was rapidly climbing the ranks in the background.

 

[k1976]

He only stayed in his original position as the Singapore CEO for five months, according to his LinkedIn page, before he was promoted to regional head of Europe, Asia and the Middle East and North Africa in April 2023.

Mr Teng later moved on to become head of regional markets this May before he was appointed to the top job on Tuesday - just slightly more than two years after he was first employed by Binance.

In announcing his successor, Mr Zhao called Mr Teng a "highly qualified leader", adding that "with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth".

Prior to joining Binance, Mr Teng worked in the more traditional financial and regulatory sectors as a director of corporate finance at the Monetary Authority of Singapore (MAS) and a chief regulatory officer of the Singapore Exchange (SGX).

 

[laksaboy]

Binance has already been blacklisted, putting a Sinkie CEO accomplishes nothing. In fact, depending on how the geopolitical situation plays out, Sinkieland might be negatively affected. Think along the lines of sanctions.

 

[k1976]

Binance has already been blacklisted, putting a Sinkie CEO accomplishes nothing. In fact, depending on how the geopolitical situation plays out, Sinkieland might be negatively affected. Think along the lines of sanctions.

That why tiongkok jump boat....and pull in our smart sinki to punch above the weight class mah...hoping for a miracle

 

[k1976]

https://sg.yahoo.com/finance/news/crypto-chief-pleads-guilty-money-230648329.html

Smart Good Tiong being Sabo by AMDK Court

 

[k1976]

Crypto chief pleads guilty to money laundering in $4bn settlement​

Matthew Field
Wed, 22 November 2023 at 7:06 am SGT

Changpeng Zhao leaves a federal court in Seattle on Tuesday - Chloe Collyer/Bloomberg

The chief executive of Binance has stepped down after pleading guilty to anti-money laundering violations in the US, marking the second crypto king to be toppled by US prosecutors in less than a month.

Changpeng Zhao, known in the industry as “CZ”, pleaded guilty to failing to maintain an effective anti-money laundering programme in a Seattle federal court on Tuesday.

He has also agreed to pay a $50m (£39.9m) fine and step down from Binance under a broader deal to settle multiple investigations into the cryptocurrency exchange. The company has agreed to pay the US $4bn to end multiple federal investigations.

 

[k1976]

It marks a stunning fall for one of the last figureheads of the cryptocurrency industry.

Mr Zhao becomes the second crypto entrepreneur to see his business career end in US courts this month following the conviction of former FTX chief Sam Bankman-Fried on multiple counts of fraud earlier this month.

Mr Zhao was a rival of Mr Bankman-Fried and was instrumental in the collapse of FTX. A tweet he sent saying Binance was selling a token issued by FTX triggered concerns about the exchange’s finances and ultimately led to the company’s unravelling last year.

Merrick B. Garland, the US Attorney General, said in a statement: “In just the past month, the Justice Department has successfully prosecuted the CEOs of two of the world’s largest cryptocurrency exchanges in two separate criminal cases.

 

[k1976]

“The message here should be clear: using new technology to break the law does not make you a disruptor, it makes you a criminal.”

Binance’s deal draws to a close a string of legal battles between the company and US officials. These include a lawsuit from US regulator the Commodity Futures Trading Commission, which in April accused Binance of failing to conduct basic compliance to stop potential terror financing and money laundering, including suspected transactions with Hamas.

Treasury Secretary Janet Yellen said: “Binance turned a blind eye to its legal obligations in the pursuit of profit. Its willful failures allowed money to flow to terrorists, cybercriminals, and child abusers through its platform.”

The US Treasury said Binance allowed Hamas’ military wing al-Qassam Brigades, Palestinian Islamic Jihad, al-Qaeda and other criminals to conduct transactions.

 

[k1976]

Mr Garland said: “Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed – now it is paying one of the largest corporate penalties in US history.”

Officials said Binance had earned around $1.35bn in fees from US customers.

Mr Zhao said in a statement posted on Twitter: “Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.”

In a blog post, the company blamed its past failures on the fact it “grew at an extremely fast pace globally, in a new and evolving industry that was in the early stages of regulation.” It admitted to making “misguided decisions along the way.”

 

[k1976]

Tio caught when stealing candy from the jar....no wonder jump boat