Richard Teng, Binance’s global head of regional markets, is becoming the crypto exchange’s chief executive, succeeding Changpeng Zhao, the company said on Tuesday. Prior to joining Binance, Richard served as chief executive of the Financial Services Regulatory Authority at Abu Dhabi Global Market and the chief regulatory officer at the Singapore Exchange. Zhao agreed to step down and plead guilty to violating criminal U.S. anti-money-laundering requirements in a deal that will bring a close to U.S. regulators’ years-long probe into the exchange. Bitcoin lost 1.5% to around $36,917 while Binance Coin fell over 5% on Tuesday to about $242, according to CoinDesk data.
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