Binance Moved Fast, Broke Things—and Paid the Price. Richard Teng Is Cleaning Up

But are you the founder – who is hoping for the company’s synonym – who will be difficult to bring the largest shareholder into a new era as a synonym?

We are very clear in terms of what we are trying to build: a best-class, durable and global platform. Again, I work very closely with the senior management and the board of directors of that front.

How do you want people to think about the difference between the CEZ era and the Richard Teng era?

CZ started building the company in 2017, when the landscape was completely different: no organization was accepting it, and there were no rules. It was a very, very different environment.

When I took responsibility, our company had to adapt to the new environment – a one that is going to be much more loyal in nature. Although there is a lack of inconsistency and harmonious, many more regulators are about to become transparency [between jurisdictions.]

We have invested very heavy in our consent program. We are now the most controlled exchanges worldwide with the approval of twenty -one regulators. This is the way forward.

What special changes have you implemented to ensure the kind of things that have landed in the format in the past – which CEZ managed to serve during prison – can’t repeat this company?

Last year, I believe that we have left about one hundred different courses and programs for law enforcement agencies about the investigation strategy. Crypto is a tracedable technology. We would like to highlight ways to use this technology to prevent, identify and prevent bad actors at the place.

We want to work very closely with our contestants and law enforcement agencies worldwide to ensure that we have a sustainable future and all these illegal financial offenses.

Under a negotiation with the US judiciary, Binsense must be submitted by external companies. From the practical point of view what does it look like?

We have two external monitor sets: by a DOJ and by a financial crime enforcement network. We work closely with both sets.

Our interests have been aligned: to ensure that we invest and improve our consent program. If there are any blind spots that we do not pick, the consent monitors are there to help. They go through what we have, asks data and recommends the areas we need to improve.

This is very useful to me because it is not just beating our chest, but we have an independent lens to say that we are doing the right thing.

In the past, the Benance has left itself as a global organization without the headquarters. How has it changed in your leadership?

It’s something we pay a lot of attention. The two basic things that the controllers ask as we are controlled worldwide are for a board of directors – which we have appointed – and a global headquarters.

Discussion [over the location of a global headquarters] Essentially complicated with multiple reasons: We can make our talent based in that country, what is the regulatory structure, and so on. However, we are in deep discussions about several jurisdictions.