Binance Creates A Board Of Directors For The First Time Ever

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Binance

The firm behind the eponymous cryptocurrency exchange, Binance Holdings, has appointed seven executives and independent members to its board of directors.

The website of Binance states that Gabriel Abed, a former Barbados ambassador to the United Arab Emirates (UAE), is now the chair of the company’s board of directors. Roger Wang, Rock He, Xin Wang, CEO of Bayview Acquisition Corp., Arnaud Ventura, managing partner of Gojo & Company, and their CEO Richard Teng were among the other members. A spokesman for Binance told Cointelegraph, “We are happy to announce that Binance has appointed a new Board of Directors.” 

US SEC May Take Action Against Binance 

There are three independent directors out of the total seven board members. As we go into our next phase, we are honored to have some of the most influential Web3 leaders in the globe providing advice to our business. One of the biggest changes to their management since Teng became CEO in November 2023 and left his role as head of regional markets is probably the creation of the board. Changpeng “CZ” Zhao, the former CEO, stepped down from his position at about the same time as part of a settlement deal with US authorities. The U.S. Securities and Exchange Commission may still take enforcement action against the company after Zhao is anticipated to be sentenced on April 30.