Binance Wants Former Abu Dhabi Global Market Head as Asia CEO: Report

Binance Wants Former Abu Dhabi Global Market Head as Asia CEO: Report

Binance, the crypto exchange that has come under increasing regulatory scrutiny worldwide, is in talks with the former head of the Abu Dhabi Global Market to take charge of its Asia business, Bloomberg reported Tuesday citing people familiar with the matter.

  • Richard Teng was approached by the world's largest crypto exchange about the CEO role of its Asian operations, Bloomberg said.
  • It is not clear whether Teng has accepted the role.
  • Teng was the CEO of Abu Dhabi Global Market for six years until March of this year.
  • He also spent more than seven years as chief regulatory officer of the Singapore Exchange, following 13 years with the Money Authority of Singapore.
  • Amid heightened scrutiny from regulators the world over in recent months, Binance has been seeking to demonstrate its pivot to a more proactive regulatory stance. CEO Changpeng Zhao last month announced the company was seeking someone with a strong regulatory background to replace him.
  • Source