Binance’s <-bsp-person state=”{“_id”:”0000018b-f3a5-de26-a7ef-ffb522b20000″,”_type”:”00000160-6f41-dae1-adf0-6ff519590003″}”>Richard Teng-bsp-person> will succeed <-bsp-person state=”{“_id”:”0000018b-f3a5-de26-a7ef-ffb522b20001″,”_type”:”00000160-6f41-dae1-adf0-6ff519590003″}”>Changpeng Zhao-bsp-person> as the chief executive officer of the world’s largest crypto exchange after Zhao agreed to step down as part of a sweeping deal to resolve a US criminal investigation.
Teng will assume responsibility for navigating the company as the years-long investigation by the <-bsp-bb-link state=”{“bbHref”:”bbg://securities/4131761Z%20US%20Equity”,”_id”:”0000018b-f3a5-de26-a7ef-ffb522b20002″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>Justice Department-bsp-bb-link> comes to an end.
Read more: <-bsp-bb-link state=”{“bbDocId”:”S4HL2MDWLU68″,”_id”:”0000018b-f3a5-de26-a7ef-ffb522b30000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>Binance CEO Pleads Guilty, Agrees to Pay $50 Million Fine-bsp-bb-link>
Teng, a civil servant-turned-crypto executive, had become the frontrunner to take over as CEO as regulatory scrutiny of <-bsp-bb-link state=”{“bbHref”:”bbg://securities/1624796D%20CH%20Equity”,”_id”:”0000018b-f3a5-de26-a7ef-ffb522b30001″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>Binance-bsp-bb-link> and Zhao intensified across a number of key jurisdictions. Zhao in late May …
