Richard Teng：

As I have said before on Twitter (X), I am honored to serve as CEO of Binance and will take on the role succeeding CZ with humility.

Over the past six years, Binance has laid the foundation for decades of continued growth and success. Now, it is my responsibility to lead our talented team into the future while respecting and learning from the past.

These responsibilities are enormous, and come with the trust of 160 million users.

The core of this organization has always been to bring value to users through innovation. The best way to put this principle into practice, and the Binance way, is to continue to provide first-class products that people use and find value in.

As the new CEO of Binance, I am determined to remain committed to pursuing product excellence and pioneering financial innovation.

With the support of CZ and our leadership team, I have accepted this position and I am committed to continuously working so that we can meet and exceed the expectations of all our stakeholders while achieving our core mission: financial freedom.

With my three decades of financial services and regulatory experience, I understand the unique challenges and opportunities facing our industry and am committed to leading through both the crypto winter and the crypto summer.

We have turned the page on the challenging chapter in Binance’s history, and in fact, we are stronger today than ever before.

Over the past two years, Binance has systematically addressed compliance issues through a series of important initiatives, including recruiting, hiring, and retaining the right talent, and strengthening Binance’s compliance procedures and culture.

More than ever, we need to collaborate with policymakers. Only then can we effectively promote the development of a globally coordinated regulatory framework that both drives innovation and provides critical consumer protection.

I am eager to work together with my peers across the industry. When we stand united, our voices will be heard louder.

To Users

"A relentless focus on users is deeply embedded in Binance's DNA. I promise that I will do everything in my power to ensure that users remain at the center of everything we do. Users can have confidence in the company's financial strength, safety, and security."

I am fortunate to lead a business with very strong fundamentals. Not only does Binance continue to operate the world's largest cryptocurrency exchange by volume, but our capital structure is debt-free and our expenses are modest. We have strong revenue and profits despite the low transaction fees we charge our users.

But most importantly, as a custodian, we take our responsibilities very seriously and maintain a 1:1 reserve capacity for each user's assets to ensure that user assets are protected.

From our Proof of Reserves system, which has been continually improved since it was first implemented 12 months ago, to our Secure Funds for Users (SAFU) emergency fund, we are committed to ensuring the integrity of our platform and making our users feel safe.

Web3 Future

From our Proof of Reserves system, which has been continually improved since it was first implemented 12 months ago, to our Secure Funds for Users (SAFU) emergency fund, we are committed to ensuring the integrity of our platform and making our users feel safe.

I am deeply invested in the promise of blockchain, such as opportunities for increased financial inclusion, cross-border remittances, and reduced transaction costs.

I also see opportunities to give individuals more control over their personal data through decentralized applications and to foster innovation through distributed applications.

To achieve this goal, I intend to drive the growth and adoption of Web3 and continue working to build an ecosystem that delivers world-changing financial technology.

To achieve this ambitious vision, regulatory innovation must be promoted in a collaborative manner.

I believe my years at the helm of Abu Dhabi Global Market have prepared me well for this.

I am proud to have driven the creation of what is widely regarded as one of the most progressive and forward-looking digital asset regulatory regimes in the world.

There is no doubt that this experience has provided me with nuanced insights into the regulatory landscape, which will be critical as I lead Binance into its next chapter.

I’m eager to dive into my new role and know there will be more opportunities to share my ideas with the community through blogs like this one, my social media accounts (Twitter, LinkedIn), and at the many industry conferences and events around the world.

As we embark on the next phase of Binance’s growth, I welcome the opportunity to engage in meaningful dialogue with global policymakers to ensure crypto investors maintain confidence in the future of the industry, and to engage and educate the next billion users to ensure the long-term sustainability of crypto.