Richard Teng, the newly appointed CEO of Binance, has outlined his vision for the future of the crypto exchange. He is committed to maintaining Binance’s core principles while driving growth and innovation. Teng emphasized the importance of delivering high-quality products that bring value to Binance’s 160 million users. He also highlighted the company’s efforts to strengthen its compliance program over the past two years. Teng stressed the need for collaboration with regulators to develop a globally harmonized regulatory framework that fosters innovation while ensuring consumer protection. He assured users of Binance’s financial strength, security, and safety, and highlighted measures such as the proof-of-reserves system and the Secure Asset Fund for Users (SAFU) emergency fund to enhance user trust. Teng expressed his deep commitment to blockchain’s potential for increased financial inclusion, cross-border remittances, and reduced transaction costs. He also recognized the importance of decentralized applications and the adoption of Web3 in empowering individuals. Teng’s regulatory experience will guide Binance into a new chapter, as he aims to foster collaboration, drive innovation, and ensure strict regulatory compliance. The evolving regulatory landscape, particularly in light of the previous CEO’s settlement with the US Department of Justice, remains a subject of interest. The approach regulators will take towards Binance and its new leadership is yet to unfold.