New Binance CEO Richard Teng pitches ‘very strong’ foundation to skeptics

Amid ongoing confusion, uncertainty and rumors around the recent departure of Changpeng “CZ” Zhao as Binance CEO, his replacement, the new Binance CEO Richard Teng, took to X (formerly Twitter) to attempt to boost investor confidence.

Soon after CZ announced he was stepping down, Binance critics on X shared their opinions on what lies ahead for the crypto exchange. While some sought details on the source of funds for CZ’s and Binance’s legal proceedings that exceed $4 billion in total, others claimed mistrust due to discrepancies in Binance’s previously shared proof of reserves (PoR).

The fundamentals of our business are VERY strong.

Binance continues to operate the world’s…

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