Binance CEO visits Vietnam.

Mr. Richard Teng was working at the Lao Dong Newspaper building in Ho Chi Minh City on the morning of July 15th.

On the morning of July 15th, the CEO of the world's largest cryptocurrency exchange unexpectedly appeared in Ho Chi Minh City to attend an event on the legal framework for cryptocurrencies in the country. Richard Teng, 55, became the top leader of the multi-billion dollar trading platform in November 2023. This Singaporean man took over the position from Changpeng Zhao (CZ), the company's founder.

Prior to Vietnam, Mr. Teng visited Taiwan to attend a seminar on digital assets and regulations in various countries.

In June 2022, amidst the boom in cryptocurrency, CZ also visited Vietnam. He met with authorities to find ways to support the cryptocurrency trading market. He attended a major cryptocurrency event and met many fans.

With over three decades of experience in financial and legal services, Teng is considered one of the visionary leaders in the blockchain industry. Prior to joining Binance in August 2021, Teng served as CEO of the Abu Dhabi Global Market Financial Services Authority (ADGM) for six years. He also previously held positions as Director of Regulation at the Singapore Exchange (SGX) and Corporate Finance Director at the Monetary Authority of Singapore.

Teng transformed Binance from a founder-led organization to a company run by a board of directors. Following the CZ era, Binance significantly increased its spending on regulatory compliance to maintain its position in line with global regulations.

CoinDesk has named Richard Teng as one of the "Most Influential People of 2024".

However, Teng's management style has also displeased some people, including the former CEO of Binance. CZ spoke out about the listing of many subprime coin projects on Binance.

In reality, the exchange's Launchpad programs are no longer as valuable as they once were. Projects listed here still have the potential to decline after listing, and there's no guarantee of price increases as before. The platform's "Vote to List" and "Vote to Delist" initiatives haven't shown immediate results.

In addition to its gray-zone trading operations, Binance also has numerous investments in Vietnam. In 2022, they invested in Coin98 (now NinetyEight), whose core product is a multi-chain wallet. Binance also made a strategic investment in SkyMavis after the company became a victim of a $600 million hack, helping to resolve cash flow issues and compensate users.

Recently, Ben Zhou, CEO of Bybit, also met with the Ministry of Finance to discuss a sandbox mechanism for domestic digital asset trading.