Binance’s new CEO, Richard Teng, faced a challenging debut in his first public interview, acknowledging past compliance shortcomings but evading inquiries on governance and crucial details. Despite persistent questioning by FT’s Scott Chipolina, Teng remained elusive, leaving unanswered queries about Binance’s headquarters, audit plans, current workforce, and UK licensing. Tensions rose as Teng, appearing remotely, maintained a vague stance even when pressed about the company’s future under his leadership.
Teng mentioned, “We’ve been undergoing audits in all regulated jurisdictions,” but refrained from naming a specific auditor when pressed. In the interview’s conclusion, Chipolina pressed Teng for transparency on Binance’s governance, prompting Teng to question the entitlement to such answers. Chipolina justified, stating, “Binance is the largest crypto exchange, and it’s crucial for us to know.”
