For years, the name Changpeng Zhao, or CZ, was almost synonymous with Binance. From humble beginnings in 2017, he built Binance from a scrappy startup into the world’s largest crypto exchange in record time. He pioneered innovations like BNB Coin, the Launchpad, BNB Chain, and aggressive global expansion. Under his leadership, Binance became a gateway to crypto for millions, offering everything from DeFi access to NFTs to advanced trading tools, all in one ecosystem.
But CZ’s story took a dramatic turn in late 2023, when he stepped down as CEO after Binance settled with U.S. authorities for $4.3 billion over anti-money laundering violations. He later served a four month sentence, marking a controversial chapter in crypto history. Yet even in exit, CZ admitted guilt, took responsibility, and showed confidence in the leadership that would follow him. Though no longer CEO, he still owns a major stake in Binance and remains a silent force behind the scenes.
Now, Richard Teng leads Binance—a man with a very different background but one who may be exactly what the company needs now. Teng, a former Singaporean regulator, had previously worked at the Monetary Authority of Singapore, Singapore Exchange, and Abu Dhabi Global Market. He joined Binance in 2021 and quickly rose through the ranks, eventually becoming CEO in November 2023 after CZ stepped down.
Unlike CZ’s bold, often unfiltered style, Teng brings structure, diplomacy, and a clear focus on compliance. Since taking the helm, he has prioritized rebuilding trust, strengthening regulatory partnerships, and cleaning up the company’s image. Under his watch, Binance has already secured or renewed licenses in more than 20 countries, showing a clear shift toward regulatory alignment. The company is also working closely with monitors assigned by the U.S. Department of Justice to ensure strict compliance going forward.
Binance's future now leans on creating a more sustainable and transparent ecosystem. Teng is leading efforts to improve corporate governance, with the introduction of an independent board and increased internal audits. The aim is to transition Binance from being seen as a rogue startup to a fully professional, trusted financial platform.
What’s next for BNB Coin in this new era? The utility of BNB continues to grow across trading discounts, DeFi, staking, and more. Binance is also doubling down on BNB Chain, positioning it as a faster, cheaper alternative to Ethereum, especially for emerging markets. The regular
$BNB token burns, now governed by the BEP 95 model, continue to reduce supply and support long term price strength.
While some may miss CZ’s charisma and fast paced innovation, the reality is this: Binance is maturing. The focus now is on long term growth, not short term hype. Teng’s leadership could be the key to making Binance not just the biggest name in crypto, but also the most trusted.
As the crypto world evolves with stronger regulation, institutional entry, and increasing real world use
#Binance must walk a tightrope between innovation and compliance. Under Richard Teng, it just might succeed.
#RichardTeng #CZ #StoryTime