When Changpeng “CZ” Zhao built Binance in 2017, it quickly became the biggest crypto exchange in the world. At one point it was processing $65 billion in daily trades and making CZ the richest person in crypto.
But in November 2023, everything changed: the U.S. Department of Justice hit Binance with a record-breaking $4.3 billion settlement for anti-money-laundering and sanctions violations. CZ pleaded guilty, stepped down as CEO, and later served four months in U.S. federal prison.
That’s when Richard Teng, a former regulator and seasoned finance executive, stepped in to lead Binance through its toughest chapter yet ... promising a culture shift toward compliance and transparency while keeping the exchange at the center of a rapidly evolving crypto industry.
Uptin sits down with Richard Teng at TOKEN2049 in Singapore to unpack:
- What it was like to take over from one of crypto’s most influential founders.
- How Binance plans to rebuild user trust after the $4.3 B settlement.
- The future of regulation, stablecoins, and crypto ETFs worldwide.
- Why traditional finance giants are suddenly embracing blockchain.
- How global politics could reshape crypto adoption, and why even Trump’s crypto stance matters.
Whether you’re an investor, a builder, or just curious about how the world’s largest exchange is preparing for the next wave of adoption, this is a rare inside look at the new era of Binance.
📈 Uptin & Thomas ... fresh takes on business, money and tech.
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