Richard Teng: Binance has transformed into a more decentralized company and will not rush to return to the U.S. market

ChainCatcher news, according to CoinDesk, Binance's new CEO Richard Teng discussed various changes and plans for Binance in an interview. Teng stated that Binance is no longer in a "founder-led" model, but has transitioned to "a more decentralized company" led by a board of directors. Binance has introduced three independent directors and assembled an experienced executive team to manage daily operations. This shift aims to strengthen corporate governance in response to the increasingly stringent regulatory environment.

Teng clearly stated that Binance currently has no plans for an IPO, as the company's financial situation is sound, having remained profitable since May 2017, and does not need to raise funds through an IPO or other financing methods. Additionally, Teng mentioned the challenges Binance faces in global compliance. He revealed that Binance currently holds 19 regulatory licenses worldwide, but still has to carefully weigh the impacts of various regulations and taxes in the absence of clear guidance. The situation regarding Binance's U.S. employees being detained in Nigeria is still ongoing. Teng indicated that Binance will not rush to return to the U.S. market but will cautiously assess changes in the regulatory environment.