In a recent interview with CNBC, Binance’s CEO, Richard Teng, addressed the company’s “cultural issues” and its commitment to compliance following a $4.3 billion fine settlement with the US Department of Justice (DOJ).
Teng also highlighted Binance’s transition to “greater maturity” and plans for the potential establishment of a global headquarters, the lack of which has been widely criticized by regulators worldwide.
CEO Emphasizes Cultural Shift Towards Compliance
The US Department of Justice had accused Binance of adopting a “move first, ask forgiveness later” approach. Teng acknowledged the concerns, recognizing that in the early stages of development when regulatory guidelines were “unclear,” Binance operated in a “certain manner.”
However, Teng emphasized that the company has since moved past those cultural issues as it has matured. The exchange’s CEO claimed that Binance is now committed to sustainability and compliance, as evidence
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