Binance inflows, on-chain assets top those of next 30 largest crypto exchanges combined

In his inaugural blog post as CEO, Teng stated that Binance has now moved beyond its previous compliance challenges and he is eager to guide the company into the future. He affirmed his commitment to prioritizing Binance users while also working closely with global regulators to support the development of international regulations for the crypto industry.

In an interview conducted in June reported by CoinDesk, Teng cited France as an example of a jurisdiction that has made significant progress in digital asset regulations resulting in an increase in crypto business. "If you look at what Paris is doing, it is very conducive for businesses. Not only ourselves, a number of crypto players are trying to use Paris as their base for expansion within Europe," Teng stated.

In a post on Binance's website, Teng emphasized the company's commitment to its role as a custodian and to backing its users' assets 1:1. He stressed that Binance remains financially healthy, operating the world's largest cryptocurrency exchange by volume while maintaining a debt-free capital structure and generating robust revenues and profits despite charging low transaction fees.

Prior to joining Binance in Aug. 2021, Teng held various positions including CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), chief regulatory officer of the Singapore Exchange (SGX), and director of corporate finance at the Monetary Authority of Singapore, according to information available on Binance’s website.