Richard Teng has emerged as a stabilizing force in the crypto industry. He took the reins as CEO of Binance during one of the company’s most turbulent chapters. Known for his deep regulatory expertise and calm leadership style, Teng is now leading the world’s largest cryptocurrency exchange through its most critical transformation—one rooted in compliance, transparency, and long-term sustainability.
With more than two decades of experience in financial regulation and exchange governance, Teng is uniquely positioned to usher Binance into a new era. As the successor to Binance founder Changpeng “CZ” Zhao, he’s focused on balancing innovation with global oversight, rebuilding trust in centralized platforms, and strengthening the bridge between crypto and traditional finance.
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Richard Teng: Early Life and Career Path
Born in Singapore in the early 1970s, Richard Teng is a Singaporean citizen and seasoned financial executive. He holds a Master’s degree in Applied Finance from the University of Western Australia and a Bachelor’s in Accountancy from Nanyang Technological University.
Before joining GIC, Teng spent more than ten years at MAS overseeing regulations and development for the capital markets. Afterward, he was appointed Chief Regulatory Officer of the Singapore Exchange (SGX) to ensure the integrity of all listed companies and financial products traded on the exchange.
He was announced as the CEO of ADGM’s Financial Services Regulatory Authority in 2015. During his tenure, ADGM earned recognition as a major international center for fintech and digital assets thanks to its well-structured rules and focus on progress.
Teng’s history made him a good fit when Binance appointed new leaders to handle global regulations and operations.
From Regional Executive to Global CEO
In 2021, Richard joined Binance and became the first CEO of Binance Singapore. Binance quickly made him its leader in the Middle East and North Africa and made him the Regional Head for Europe and Asia. CZ’s case with the Department of Justice was settled by late 2023, which led to Teng being made the global CEO of Binance.
After his appointment, the company entered a new era. Compared to Zhao, Teng focuses on slower growth and more regulation-based policies. From the beginning, he implemented reforms across Binance’s operating framework, management approach, and rules for staying compliant.
Under Teng’s leadership, Binance has expanded licensing efforts across key jurisdictions, increased financial disclosures, and begun building more transparent relationships with regulators and banking institutions.
Richard Teng’s Net Worth and Industry Impact
As of 2025, Richard Teng’s estimated net worth is around $20 million, reflecting his executive role at Binance and equity stakes tied to performance-based compensation. While not nearly as high-profile as his predecessor CZ—who was once worth tens of billions—Teng’s value lies in his ability to protect and professionalize Binance’s long-term operations.
He is increasingly viewed as one of the few crypto executives capable of restoring faith in centralized exchanges at a time when user confidence has been shaken by scandals and bankruptcies elsewhere in the space.
Ethics, Regulation, and Institutional Legitimacy
Teng’s philosophy centers on proactive engagement with regulators, investor protection, and systemic transparency. He has openly stated that the crypto industry can no longer afford to sidestep the rules and must instead lead by example in working with governments and international watchdogs.
Rather than fighting regulations, Teng is helping shape them. He regularly speaks at global financial forums and crypto conferences, pushing for consistent legal frameworks that allow innovation while minimizing systemic risk.
Binance, under his leadership, has published transparency reports, upgraded customer safeguards, and launched internal compliance reviews—all part of a broader campaign to show that major crypto exchanges can operate with the same rigor as legacy financial institutions.
Navigating Binance’s Legal Challenges and Rebuilding Trust
Taking over a company under intense scrutiny from U.S. and global regulators was no small task. Teng inherited Binance, which had just paid over $4 billion in fines and seen its founder step down amid accusations of operating without sufficient AML controls.
Instead of retreating, Teng leaned into reform by restructuring the executive team, enhancing the company’s financial audit trail, and expanding its global compliance divisions. Binance also launched new fiat onramps and partnered with traditional financial institutions to strengthen user access and banking reliability.
Teng has been clear that the company’s mission is to be sustainable, legally sound, and partner-ready for institutions entering the crypto space.
Conclusion
Richard Teng serves as the new CEO, but he is also the symbol of Binance’s advancement. With a background steeped in regulation, finance, and governance, he is rebuilding Binance from the inside out. He aims to make it a safer, more transparent platform that can lead the crypto industry into its next chapter.
With questions being asked about the authenticity of centralized exchanges, Teng’s example shows that serving the law and exploring new ideas are compatible. He is maintaining Binance’s position by making responsible reforms and clearly defining the company’s strategies.
FAQs
1. What was Richard Teng’s career before Binance?
He held senior roles at the Monetary Authority of Singapore and Singapore Exchange and was CEO of Abu Dhabi’s financial regulator before joining Binance.
2. What is Richard Teng’s estimated net worth in 2025?
Around $100 million is derived from executive compensation and binding equity.
3. What sets Teng’s leadership apart from CZ’s?
Teng is more regulation-focused and institutionally driven, emphasizing legal clarity, operational reform, and long-term compliance.
4. Is Richard Teng Singaporean?
Yes, he is a Singaporean citizen, born in the early 1970s.
5. What is Teng’s vision for Binance?
To transform Binance into a compliant, trusted, and global crypto platform that works harmoniously with regulators while advancing financial innovation.
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