New Binance CEO Teng’s First Job Is to Avert Customer Exodus (3)

Mollify 150 million potentially jittery users, placate belligerent US regulators and keep high-profile founder Changpeng Zhaoonside. These are just some of the tasks for crypto exchange Binance’s new head Richard Teng.

Teng, 53, succeeded Zhao as the chief executive of the world’s largest crypto exchange after the company and Zhao pleaded guilty to US anti-money laundering and sanctions violations. Zhao, Binance’s founder, stepped down as CEO as part of a sweeping deal to resolve the Department of Justiceprobe.

Binance will pay $4.3 billion in penalties — one of the largest such agreements in US history — ...