Amid escalating regulatory pressures, Binance has established its inaugural board of directors, signaling a pivotal organizational change. The board, led by Gabriel Abed, former Barbados ambassador to the UAE, comprises seven members, including CEO Richard Teng and founding executives Heina Chen, Jinkai He, and Lilai Wang. Two external members, Arnaud Ventura and Xin Wang, have also been appointed. This development, confirmed on March 7 by Bloomberg, underscores a significant strategic shift under Teng’s leadership since November. With the global headquarters location still undecided, Binance considers the board formation crucial for its ongoing compliance initiatives. The move comes amidst heightened regulatory scrutiny, notably in regions like Nigeria and the Philippines, where regulatory actions have been taken against the exchange for alleged non-compliance.
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