Binance CEO Discusses Potential Headquarters Selection from Various Jurisdictions
Binance CEO Richard Teng stated that the exchange is in talks with a few different jurisdictions about selecting a new headquarters location, but has not made a choice as of publication.
It has been a long-standing concern that the biggest crypto exchange in the world lacks a headquarters. Something that Former Binance CEO Changpeng Zhao either neglected to discuss or completely dismissed, wanting to “embrace the decentralized model”, as stated in a 2021 interview . Although he did acknowledge the need for one, saying “We have come to realize that for the regulators, we need to be centralized.”
Though his vision is understandable, it has been a controversial decision that “doesn’t go well with regulators.” In the past, Binance has been hit by regulatory warnings from multiple jurisdictions, including the US, UK, and Hong Kong, but sprawling operations with no substantial record of an operational headquarters have left regulators with little control over the exchange.
The matter erupted in 2023 when Zhao pled guilty to breaking criminal US anti-money laundering regulations, leading to his resignation as CEO. This left a mark on Binance’s reputation as a transparent and secure platform, emphasizing the importance of regulation now more than ever.
Richard Teng, Zhao’s replacement, recognized this and stated in a tweet following his appointment as CEO that he is committed to “collaborating with regulators to uphold high standards globally that foster innovation while providing important consumer protections.”
It is an honour and with the deepest humility that I step into the role of Binance’s new CEO.
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