Binance AMA featuring Richard Teng and co-founder He Yi will take place tonight at 8 pm.
Contents:
Toggle
Richard Teng: Reconciliation is positive, compliance is the trend
Binance has no plans for an IPO
He Yi holds a large amount of BNB
The Department of Justice inspector is not “taking over Binance”
He Yi: CZ is stepping down, not going to hell, he is still with us
Richard is better suited for the CEO role
There is still room for improvement in all aspects of Binance
Why is the SEC not included in the settlement agreement?
Richard Teng: Reconciliation is positive, compliance is the trend
Richard Teng began by stating that he usually converses in English, but is still happy to communicate with the crypto community.
He mentioned that he was fortunate to assume the role of CEO with the support of CZ and Binance executives, and when asked about the impact of the hefty fine on Binance, his response was similar to previous interviews, emphasizing that the funds are abundant.
(
Fortune interview with Richard Teng, leading Binance’s transformation into a traditional financial company leveraging regulatory advantages
)
Binance has no plans for an IPO
Richard Teng stated that Binance has ample funds and no plans for an IPO. The focus will be on serving users and product innovation.
He Yi holds a large amount of BNB
Both He Yi and Richard Teng expressed their belief in the four-year cycle of the crypto bull market. He Yi mentioned that she has not touched her large holdings of BNB, while Richard Teng emphasized the comprehensive institutional layout compared to the past and his optimism for the future crypto market.
The Department of Justice inspector is not “taking over Binance”
In response to a question, it was clarified that the inspector to be appointed by the government in the settlement agreement will not be a government official taking over Binance, but an independent lawyer from a third party conducting judge-related reviews.
He Yi: CZ is stepping down, not going to hell, he is still with us
In her response and supplement, He Yi mentioned the following:
Richard is better suited for the CEO role
He Yi believes Richard is better suited for the CEO role, such as in communication with regulators and license applications.
There is still room for improvement in all aspects of Binance
Binance has not made many arrangements in fields like BRC20 due to considering the limited popularity of areas like NFT.
Why is the SEC not included in the settlement agreement?
He Yi slightly corrected the question, pointing out that many people think the SEC is the largest regulatory agency in the United States, but in reality, both the SEC and CFTC can only file civil lawsuits, while the Department of Justice can escalate to criminal prosecutions. In comparison, the Department of Justice is the largest regulatory agency, and Binance has reached a settlement with them.
She also mentioned that consensus with the SEC has not been reached, and the previous litigation process will continue.
(
SEC still seeks to prove fraud and misappropriation of assets by Binance US, judge urges to halt the investigation: enough is enough
)
AMA
Richard Teng
He Yi
Binance
Further reading
Binance AMA featuring Richard Teng and He Yi will take place tonight at 8 pm
CZ AMA: Describes USDT as operating like a black box, stablecoin project in progress, new capabilities for BNB?