Empire Binance's CEO on the New Binance Vision | Richard Teng
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Jan 13, 2025 
Richard Teng, CEO of Binance, pulls back the curtain on the world's largest crypto exchange. He recounts how he was recruited to tackle a $4.3B regulatory settlement. Richard explains Binance's edge in navigating stringent regulations while expanding globally. The discussion reveals their rigorous listing processes and the balance between centralized and decentralized finance. He also shares insights on the evolving role of crypto in the U.S. political landscape and how education is key to reshaping public perceptions of this dynamic industry.
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CZ's Persuasion
- Richard Teng met CZ through a mutual friend in June 2021 during the COVID-19 restrictions in Singapore.
- Their initial one-hour meeting on CZ's yacht extended to over two hours, discussing Binance's vision and future.
Binance's Growth and Compliance Journey
- Binance's rapid growth led to underinvestment in compliance in its early days, resulting in regulatory issues.
- Increased regulatory clarity and mainstreaming have shifted the narrative, prompting significant investment in compliance.
Stringent Listing Process
- Binance maintains stringent listing criteria, listing far fewer coins than competitors.
- They prioritize user protection by emphasizing deep market liquidity and narrow bid-ask spreads.