Richard

United

Read

Binance has appointed a board of directors for the first time as regulatory crackdown intensifies.&nbsp;
The newly formed board will be chaired by Gabriel Abed, previously Barbados’ ambassador to the United Arab Emirates. The board comprises seven members, including <a href="https://crypto.news/binance-forces-conversion-of-15-tokens-to-usdt/" rel="noopener noreferrer nofollow">Binance</a> CEO Richard Teng and other key executives such as Heina Chen, Jinkai He, and Lilai Wang, who were among the platform’s founding members.&nbsp;
Additionally, two external members, Arnaud Ventura, a managing partner at Gojo &amp; Co., and Xin Wang, CEO of Bayview Acquisition Corp., will join the board. The development was officially confirmed on March 7, as reported by <a href="https://www.bloomberg.com/news/articles/2024-04-01/crypto-exchange-binance-names-its-first-board-of-directors" target="_blank" rel="noopener noreferrer nofollow">Bloomberg</a>.&nbsp;
You might also like: <a href="https://crypto.news/binance-forces-conversion-of-15-tokens-to-usdt/" rel="noopener noreferrer nofollow"> Binance forces conversion of 15 tokens to USDT </a>
This strategic move marks one of the initial significant changes under the leadership of Teng, who took the role in November. The exchange, yet to declare a fixed location for its global headquarters, views the formation of this board as a critical step in its ongoing transformation and compliance efforts.&nbsp;
The largest crypto exchange has been under significant regulatory scrutiny lately. Following its criminal charges and $4 billion <a href="https://crypto.news/binance-settlement-plea-deal/" rel="noopener noreferrer nofollow">settlement</a> in the U.S., the exchange has been under a microscope in other regions like <a href="https://crypto.news/detained-binances-executives-sue-nigerian-government-report-says/" rel="noopener noreferrer nofollow">Nigeria</a> and the Philippines. Most recently, the Philippines SEC has made efforts to <a href="https://crypto.news/detained-binances-executives-sue-nigerian-government-report-says/" rel="noopener noreferrer nofollow">block</a> the exchange, citing non-compliance with licensing requirements.&nbsp;
Read more: <a href="https://crypto.news/vitalik-buterin-ethereum-update-details/" rel="noopener noreferrer nofollow"> Vitalik Buterin reveals details on next Ethereum update </a>

Binance establishes 1st board of directors, yet to select HQ site

crypto.news

Other articles published on Apr 1, 2024

Solana (SOL), Ethereum (ETH) dan Furrever Token sebagai Tiang Kestabilan Pasar Kripto

Next Cryptocurrency To Explode Monday, April 1 – Toncoin, Theta Network, Uniswap

Global Blockchain Show 2024: Where Crypto Titans Gather - HLX Token Presale Offers Front-Row Access!

Is XRP a Security? Judges Rethink Howey Test, Price Faces Impact

Ripple Continues to Maintain a Consolidated Trend; Can It Reach $0.7 in April 2024?

PEPE Meme Token Attempts Breakthrough in the Crypto Market

Join our free newsletter for daily crypto updates!