Transition to a Corporate Structure

Under Richard Tang's leadership, Binance has shifted from a founder-led model to a board of director-led corporate structure, marking a significant transformation in the company's governance. This new structure includes seven directors, with three independent members, aimed at enhancing decision-making and strategic direction. The emphasis on compliance has also increased drastically, with spending rising from $158 million in 2022 to $213 million the following year, reflecting a commitment to regulatory adherence. The establishment of a team focused on compliance processes, bolstered by AI technology, highlights the proactive steps Binance is taking to meet global regulatory standards.