🚀 How Richard Teng Is Taking Binance to New Heights
1. ✅ Compliance First – A Radical Shift
"Our number one priority is restoring trust with regulators and users." — Richard Teng
After Binance paid a $4.3 billion fine to the U.S., Teng took over with a clear mission: turn Binance from a regulatory outcast into a global leader in compliance.
Built a formal board of directors — something Binance lacked for years
Set up transparent reporting, anti-money laundering (AML) systems, and compliance dashboards
Hired ex-regulators and compliance officers to monitor internal risk
Engaged directly with global regulators to repair Binance’s image
📌 Impact: Binance secured licenses or registrations in over 20 jurisdictions including France, UAE, Japan, and El Salvador.
2. 🌐 Global Expansion with Local Trust
Teng has pushed for regional empowerment, giving local teams more autonomy to comply with local laws and build relationships:
Launched Binance Japan with full regulatory approval
Binance MENA became a role model for compliance-first growth
Partnered with the UAE government, gaining early mover advantage in the Gulf's crypto-friendly environment
📌 Impact: Binance remains the #1 global crypto exchange by volume, despite pressure from U.S. authorities and global competition.
3. 💸 Diversifying the Business Model
Under Teng, Binance is not just an exchange:
Launched tokenized RWAs (Real-World Assets) like treasuries
Supports Shariah-compliant investment products for Islamic markets
Expanding Binance Pay, NFTs, and Binance Academy
Launching AI-integrated trading tools and financial dashboards
📌 Impact: Binance is pivoting toward being a "Web3 financial powerhouse" instead of just a trading platform.
4. 🤝 Restoring Institutional Confidence
Teng’s calm, regulatory-minded leadership is rebuilding trust:
Reopened conversations with Wall Street, banks, and regulators
Improved internal transparency, including quarterly updates
Encouraged third-party audits and independent reserve checks
📌 Impact: Institutional partnerships are returning, and Binance is no longer seen purely as a rogue player.
5. 📊 User-First Focus
Teng emphasizes security, education, and simplicity:
Prioritizing safety of funds with new Proof-of-Reserves standards
Strengthened customer support
Binance Academy now supports over 30 languages, helping onboard new users
📌 Impact: Despite setbacks, Binance has maintained one of the largest user bases in crypto (150M+).
🧠 Teng’s Philosophy
“Regulation is not the enemy. Clear rules make the industry stronger.”
