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Binance Forms First Board of Directors Amidst Changes

Binance Forms First Board of Directors Amidst Changes

Binance Holdings Ltd. has introduced its inaugural board of directors, as reported by Bloomberg News.

The board comprises seven members, including CEO Richard Teng and three internal executives: Heina Chen, Jinkai He, and Lilai Wang. Three external members have also been appointed: Gabriel Abed, Arnaud Ventura, and Xin Wang.

Gabriel Abed, formerly the Ambassador of Barbados to the United Arab Emirates and Kuwait, recently resigned from his post. Arnaud Ventura, an entrepreneur, and Xin Wang, CEO at Bayview Acquisition Corp., join as external members.

The company has posted the board of directors’ information on its website, though the release date is unspecified.

In the past year, Binance faced legal issues, admitting guilt to charges of money laundering, conspiracy related to an unlicensed money-transmitting business, and sanctions violations, with fines totaling $4.3 billion.

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Changpeng Zhao (CZ), the former CEO, also admitted to breaches, accepting a $50 million fine and stepping down. CZ’s sentencing is set for April 30.

Following CZ’s departure, Binance appointed Richard Teng as its new CEO. Teng, previously the Global Head of Regional Markets, takes the helm amid ongoing developments.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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