Binance CEO Richard Teng Explains Structural Changes: CZ Remains Largest Shareholder

COINOTAG news, on September 28, Binance’s current CEO Richard Teng remarked during the Korea Blockchain Week event in Seoul, South Korea, earlier this month: “The structure of Binance has undergone significant changes since CZ was the CEO. It now operates under a board-led framework. While CZ continues to hold his shareholder rights, my daily operations involve close collaboration with the board of directors to shape our global strategy.” Binance’s regional head Vishal Sacheendran disclosed in an earlier interview: “CZ is not engaged in any decision-making processes at Binance. Nonetheless, CZ remains the company’s largest shareholder, possessing approximately 90% of the shares.”