Richard Teng, a 52-year-old civil servant-turned-crypto executive who is currently the head of all regional markets outside the United States for Binance is reportedly a possible heir to Binance’s embattled CEO, Changpeng “CZ” Zhao. What Happened: CZ is currently facing mounting regulatory scrutiny from US federal agencies, as well as regulators in Canada, Australia, and Dubai. Teng joined Binance in August 2021 as Singapore CEO after a meteoric rise to his current position in less than two years. In late May, Zhao appointed him as head of all regional markets outside the US, a position that has made Teng a likely successor to CZ, should he relinquish his position, reported Bloomberg. Teng worked for 13 years at the Monetary Authority of Singapore before joining the Singapore stock exchange as the chief regulatory officer.
