Since taking over as Binance CEO, Richard Teng has focused on transforming Binance from a founder-led organization to a board-directed structure, and has emphasized the company's compliance in a global regulatory environment. Despite growing speculation about an initial public offering (IPO), Teng said that Binance is currently in good financial shape and there is no need for an IPO or fundraising. At the same time, Teng has shown an open attitude towards cleaning up past mistakes and plans to build Binance into a sustainable business to meet the challenges of the next fifty to one hundred years.

Key Points

- Richard Teng is committed to transforming to a board-directed structure after taking over as Binance CEO.

- Despite growing speculation about an IPO, Teng said that Binance currently has no need for fundraising or an IPO.

- The company is working to increase transparency to improve relations with global regulators.

- CZ is no longer involved in Binance's daily operations, and Teng emphasized that his departure is part of the settlement agreement.

- Ye Hi occupies an important position in Binance's internal management and is responsible for some core businesses.

- Binance is focused on developing markets outside the United States and is not considering expanding in the United States for the time being.

- Binance has addressed some of the compliance challenges it has faced in the past and continues to work with regulators around the world.