Binance's new CEO Richard Teng: Very confident in the outcome of the SEC's lawsuit against Binance

ChainCatcher message, in Richard Teng's first Chinese AMA after becoming CEO of Binance, Richard Teng stated that the case in which the U.S. Securities and Exchange Commission (SEC) is suing Binance is still ongoing and cannot be discussed, but we are very confident in the outcome.

Richard Teng mentioned that Binance will actively take responsibility for areas where compliance is lacking. This is a responsibility that a financial company with duties, accountability, and a willingness to accept regulation should fulfill. Huge fines are not only imposed on Binance; the top ten financial companies globally have accumulated fines totaling hundreds of billions of dollars, primarily to learn from past mistakes and not repeat them. Richard Teng stated that Binance will continue to increase its investment in compliance in the future.