Is Bitcoin Price (BTC) Heading Below $26K?
The appointment of Richard Teng to oversee Binance’s regional markets outside the U.S. has positioned the one-time Abu Dhabi regulator as the most likely successor to Changpeng Zhao, who founded the world’s largest crypto exchange in 2017. The enhanced role follows a report last month that Zhao, commonly known as CZ, is looking to reduce his ownership of Binance.US, the firm's American arm – a move that's seen as something of an appeasement to U.S. regulators. Teng's knowledge and experience as a regulator will come to bear in his new role overseeing Asia, Europe, the Middle East and North Africa as the exchange, often targeted by authorities, attempts to draw a line under mounting enforcement actions related to conduct during crypto’s early years. Prior to heading up the Financial Services Regulatory Authority at Abu Dhabi Global Market, Teng was chief regulatory officer of Singapore Exchange (SGX) and spent 13 years with the Monetary Authority of Singapore. In an interview with CoinDesk, Teng sidestepped the idea that he’s being groomed to take the reins from the 46-year-old CEO.
Source: CoinDesk
