- Binance appoints its first board of directors, bringing together diverse expertise.
- The move follows founder Changpeng Zhao’s resignation due to anti-money laundering charges.
- Under CEO Richard Teng, Binance is adopting a more traditional corporate structure.
Diverse expertise on board
Binance, the global crypto exchange firm, has taken a significant step towards a more conventional corporate structure by appointing its first-ever board of directors.
Gabriel Abed, the former Barbados ambassador to the United Arab Emirates, will serve as the board’s chairman, joined by Binance CEO Richard Teng and senior executives Heina Chen, Jinkai He, and Lilai Wang.
The board also welcomes Arnaud Ventura, managing partner at investment firm Gojo & Co, and Xin Wang, CEO of Bayview Acquisition Corp. The appointments, effective March 7, bring together a diverse range of expertise to guide Binance’s future endeavors.
Navigating legal challenges
The formation of the board follows founder Changpeng Zhao’s resignation in November after pleading guilty to anti-money laundering charges in the US.
As part of a US$4.3 billion settlement with the US Department of Justice, Zhao agreed to step down as CEO.
Although claiming to operate without a global headquarters since its founding in China in 2017, Binance, under Teng’s leadership, is now adopting a more traditional corporate structure.
To read the original article: https://www.techinasia.com/global-crypto-exchange-binance-names-board-directors
