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

Quick Summary:

After former Binance CEO Changpeng Zhao went to prison, Richard Teng set out to show that the crypto exchange is now on its best behavior.

The head of YZi Labs, Ella Zhang, insists the outfit has been operationally independent of Binance since it was created in 2018, contrary to reporting, but it is funded “primarily from individual assets of Binance founders,” she says.

Teng took charge at Binance in November 2023 after Zhao—who goes by CZ—pleaded guilty to violating anti-money laundering laws and US sanctions.

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Article Details

Author / Journalist: Joel Khalili

Category: TechnologyEconomy

Markets: United StatesSingaporeSwitzerlandUnited Arab Emirates

Topics: Business Business / Blockchain and Cryptocurrency

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-12 @ 10:16:28 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: wired.com

Language: English

Article Length: 1998 words

Reading Time: 12 minutes read

Sentences: 122 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Wired

News ID: 26102008

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