Binance's new chief Richard Teng must deal with years of intrusive US financial monitoring, an ongoing US Securities and Exchange Commission lawsuit and the potential loss of its dominance of the crypto sector
Teng was quickly appointed CEO this week after Binance s founder Changpeng Zhao pleaded guilty to breaking US anti-money laundering laws, part of a $4.3 billion deal to resolve a years-long US investigation.
Spiralling compliance costs,
ongoing legal headaches and a shrinking share of the market:
Binance s new chief Richard Teng faces daunting challenges in
turning a new leaf for the world s biggest. -November 24, 2023 at 08:46 am EST
- MarketScreener