The ADGM website announced that their appointments became effective on March 7.
According to a Bloomberg article, the Binance CEO discussed the naming of the company’s headquarters and board of directors.
Richard Teng, who took on the role of Binance’s CEO after Changpeng Zhao resigned, is one of the seven members on the exchange’s board.
Binance executives Lilai Wang, Jinkai He, and Heina Chen also hold equal representation on the board. The remaining three external members are Gabriel Abed, a former ambassador of Barbados to the UAE, Arnaud Ventura, a managing partner at Gojo & Co., and Xin Wang, the current CEO of Bayview Acquisition Corp.
Establishing a Strong Corporate Structure
Following the resolution of regulatory obstacles and a $4.3 billion lawsuit with the U.S. DOJ, Binance Holdings Ltd, a prominent cryptocurrency exchange, has appointed its inaugural board of directors.
After facing regulatory challenges, particularly in the U.S., last year, Binance is undertaking a reorganization effort to maintain its position as the world’s largest cryptocurrency exchange. During that time, CEO Changpeng Zhao (CZ) admitted to multiple criminal offenses, including AML and sanctions breaches related to the exchange.
Their appointments, as indicated on the Abu Dhabi Global Market (ADGM) website, became effective on March 7. Since Teng assumed the role of CEO, these changes have been particularly noticeable. His aspirations for Binance primarily revolve around the exchange’s users, whom he commended upon taking office in November 2023.
As part of his ambitious plan to establish a stronger corporate structure, the CEO of Binance mentioned the naming of the company’s headquarters and board of directors.
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