Binance, the popular cryptocurrency exchange, has recently made some significant announcements regarding its future plans. In an interview with CNBC, CEO Richard Teng outlined the company’s vision.
Teng addressed the concerns raised by the previous legal issues faced by Binance, including the settlement with US authorities. He explained that the allegations against the company were related to its early-stage activities when the rules and regulations were not yet clear. However, Teng emphasized that Binance has since matured and is now focused on sustainability and compliance. He stated that the company is committed to establishing a robust compliance plan.
In a recent development, Binance has established its first board of directors. While most of the board members are internal employees, there are a few non-executive directors as well. Teng defended this decision, stating that the board needs to have a deep understanding of Binance’s unique business model. He believes that this combination of internal and external perspectives will contribute to the company’s future growth.
Furthermore, Binance is still considering the location for its official global headquarters. Teng confirmed that the company is evaluating several options but stressed that the selection process is a meticulous one. Binance is searching for a jurisdiction with a regulatory framework that can accommodate its wide range of products and services. Additionally, the chosen location should be able to support the company’s user base and provide opportunities for expanding its workforce. Paris has been mentioned as a potential global headquarters in the past.
Binance’s CEO, Richard Teng, has provided insights into the company’s future plans and the steps it is taking to ensure compliance and growth. With the establishment of a board of directors and the careful consideration of its global headquarters, Binance is aiming to continue its success in the cryptocurrency market.