Binance Appoints Board of Directors for the First Time
Binance Holdings Ltd. has recently formed a board of directors, a significant move amidst a period marked by changes and challenges, as reported by Bloomberg News.
The board comprises seven members, including CEO Richard Teng and three other company executives: Heina Chen, Jinkai He, and Lilai Wang. Additionally, three external members join the board: Gabriel Abed, Arnaud Ventura, and Xin Wang, according to Bloomberg’s coverage.
Gabriel Abed, formerly the Ambassador of Barbados to the United Arab Emirates and Kuwait, resigned from his position two months ago. Arnaud Ventura is an entrepreneur who has founded multiple companies, including PlaNet Finance. Xin Wang serves as the CEO at Bayview Acquisition Corp. and offers advisory services to financial institutions regarding mergers and acquisitions, as detailed on her LinkedIn profile.
Although Binance did not provide immediate comment on this development, the company did publish the board of directors on its website. However, the timing of this release remains unclear.
This announcement comes after Binance faced legal issues late last year, pleading guilty to various charges, including money laundering, conducting an unlicensed money-transmitting business, and violating sanctions. Former CEO Changpeng Zhao, also known as CZ, pleaded guilty to anti-money laundering and sanctions violations, agreed to a $50 million fine, and stepped down from his position. CZ’s sentencing is scheduled for April 30th.
Following CZ’s resignation, Binance appointed Richard Teng as its new CEO. Teng previously served as Binance’s Global Head of Regional Markets, bringing his extensive experience to the forefront of the exchange’s leadership.
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