So we got new CEO of Binance

[Tipstar]

The new CEO Richard Teng says Binance will now act different then when CZ was in charge. This means there will be a board of directors, physical address, and financial transparency.
These are all things that Binance never did have with CZ as the CEO. He says there is a 'robust timeline' in place for it to happen.
https://www.binance.com/en/feed/post/2023-11-27-richard-teng-transitioning-binance-into-a-conventional-financial-company-with-increased-regulation-and-transparency-612563312369

I guess that's what would be good for all the users. It don't mean CZ and the leadership were harming its users but more transparency and regulation are always favorable to the users on the long term. Even though we might have to trade of some perks and probably a higher fees as their operation cost and taxes increases. It may seem counterintuitive at first but it may prevent any large mishandling of Binance like the one done in FTX, where people lost huge amount of money trying to save a fraction of the fees.

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[GlacierBIT]

I really hope that the change of the CEO will not have a big impact, the Binance exchange evokes only positive emotions. The whole journey that has already been done cannot just go downhill. A change in leadership can open up new perspectives and opportunities for a company to grow and adapt to changing market conditions.

[Bushdark]

I really hope that the change of the CEO will not have a big impact, the Binance exchange evokes only positive emotions. The whole journey that has already been done cannot just go downhill. A change in leadership can open up new perspectives and opportunities for a company to grow and adapt to changing market conditions.

Getting a new CEO is a good news for binance since CZ had been accused of money laundering and the case is still in court.
If he continues to become the CEO of binance, that would have a negative impact on the exchange immediately. Resigning is a good news and we hope to see more hands that would work together to make binance more bigger and a better exchange for her customers.
There are speculations that binance is going to fall but this news is not good enough to make the exchange crash.

[Yamifoud]

The new CEO Richard Teng says Binance will now act different then when CZ was in charge. This means there will be a board of directors, physical address, and financial transparency.
These are all things that Binance never did have with CZ as the CEO. He says there is a 'robust timeline' in place for it to happen.
https://www.binance.com/en/feed/post/2023-11-27-richard-teng-transitioning-binance-into-a-conventional-financial-company-with-increased-regulation-and-transparency-612563312369

I guess that's what would be good for all the users. It don't mean CZ and the leadership were harming its users but more transparency and regulation are always favorable to the users on the long term. Even though we might have to trade of some perks and probably a higher fees as their operation cost and taxes increases. It may seem counterintuitive at first but it may prevent any large mishandling of Binance like the one done in FTX, where people lost huge amount of money trying to save a fraction of the fees.

And aside from that Binance did this to give way for the investigation where CZ can focus on the case. Of course, we all can't forget all the good things and exchange improvements during his time but still, we are not sure about the transparency he did and this is what the issue has been called. It is a good decision for the Binance team and the transition is needed knowing that CZ can no longer hold and work on his position as the issue continues. And with the experience of the new CEO (Richard Teng), we believe and expect something new with Binance and can protect its reputation.

[JeffBrad12]

I really hope that the change of the CEO will not have a big impact, the Binance exchange evokes only positive emotions. The whole journey that has already been done cannot just go downhill. A change in leadership can open up new perspectives and opportunities for a company to grow and adapt to changing market conditions.

hopefully with the change it could bring betterment for binance so that they learned their lesson. after all its matter of mantaining public fund in this case where if its gone it might incur many people to lose their money which hopefully will not be happening anytime soon.
This could also be a lesson for other exchanges out there as well.
in regard of the fall of binance, Im sure it won't happen, you see even though there has been some proof of withdrawal of billions of money from the platform from peolpe after that news of changing CEO, the company itself still have so many reserved funds that I doubt the withdrawal will be meaningful even stating that its not the first time they got such massive withdrawals.

[Rehan Zakir]

Cz is a very good person.
Cz countless efforts make the binance exchange the world top crypto market exchange. I hope cz will back soon. Cz is the real gem for binance. I wish that the new CEO is more hard working and competent then the cz.

[fzkto]

The new CEO Richard Teng says Binance will now act different then when CZ was in charge. This means there will be a board of directors, physical address, and financial transparency.
These are all things that Binance never did have with CZ as the CEO. He says there is a 'robust timeline' in place for it to happen.
https://www.binance.com/en/feed/post/2023-11-27-richard-teng-transitioning-binance-into-a-conventional-financial-company-with-increased-regulation-and-transparency-612563312369

I guess that's what would be good for all the users. It don't mean CZ and the leadership were harming its users but more transparency and regulation are always favorable to the users on the long term. Even though we might have to trade of some perks and probably a higher fees as their operation cost and taxes increases. It may seem counterintuitive at first but it may prevent any large mishandling of Binance like the one done in FTX, where people lost huge amount of money trying to save a fraction of the fees.

And aside from that Binance did this to give way for the investigation where CZ can focus on the case. Of course, we all can't forget all the good things and exchange improvements during his time but still, we are not sure about the transparency he did and this is what the issue has been called. It is a good decision for the Binance team and the transition is needed knowing that CZ can no longer hold and work on his position as the issue continues. And with the experience of the new CEO (Richard Teng), we believe and expect something new with Binance and can protect its reputation.

I don't know how good his reputation was. I think he was often talked about negatively in the crypto community. To be honest, I'm even surprised that the investigation into him started recently and not a few years ago. But I guess that doesn't matter. What's important is that the government is taking steps to regulate crypto.

[2Pizza410000BTC]

I really hope that the change of the CEO will not have a big impact, the Binance exchange evokes only positive emotions. The whole journey that has already been done cannot just go downhill. A change in leadership can open up new perspectives and opportunities for a company to grow and adapt to changing market conditions.

The CEO change of Binance Exchange did not have any negative impact on Binance Exchange, but if huge amount of dollars are withdrawn from Binance Exchange temporarily or permanently, all these things cause great damage to the reputation of the exchange. For now, the new CEO change has not affected the reputation of Binance Exchange. However, due to the SEC's case, the reputation of the exchange was temporarily damaged.

[Bushdark]

Cz is a very good person.
Cz countless efforts make the binance exchange the world top crypto market exchange. I hope cz will back soon. Cz is the real gem for binance. I wish that the new CEO is more hard working and competent then the cz.

There had been a lot of attacks on cz and this had made him stronger and prepared for the worse to happen. Since he accepted of putting his hands on money laundering, this had made some investors to be scared and have no option than to remove their funds from binance to be safe from any future attack on the exchange. CZ is an hard working CEO and I don't think he relent on users funds to get to where he his now so all those attack on him would not go anywhere or affect him that much.
 

[Ben Barubal]

Cz is a very good person.
Cz countless efforts make the binance exchange the world top crypto market exchange. I hope cz will back soon. Cz is the real gem for binance. I wish that the new CEO is more hard working and competent then the cz.

There had been a lot of attacks on cz and this had made him stronger and prepared for the worse to happen. Since he accepted of putting his hands on money laundering, this had made some investors to be scared and have no option than to remove their funds from binance to be safe from any future attack on the exchange. CZ is an hard working CEO and I don't think he relent on users funds to get to where he his now so all those attack on him would not go anywhere or affect him that much.
 

  Honestly, if we are only talking about the performances, what I saw is that Cz is good and manages well. I saw that he really took care of their client users on their exchange platform, especially if a hacker suddenly gets into their exchange platform. The trust of the users is maintained, even though it has happened several times.

  Now, let's say to the new CEO that it's still a little groping and he should quickly think of good plans to do. So far, I haven't seen a good performance because I've heard of other countries that are held by Binance. It looks like no action has been taken yet, and it seems that the country that uses their platform is not paying attention. I hope it will be done soon because now that it has been given a grace period of 3 months, if Binance does not do it this way, it will be a big loss for them.

[Sophokles]

Cz is a very good person.
Cz countless efforts make the binance exchange the world top crypto market exchange. I hope cz will back soon. Cz is the real gem for binance. I wish that the new CEO is more hard working and competent then the cz.

There had been a lot of attacks on cz and this had made him stronger and prepared for the worse to happen. Since he accepted of putting his hands on money laundering, this had made some investors to be scared and have no option than to remove their funds from binance to be safe from any future attack on the exchange. CZ is an hard working CEO and I don't think he relent on users funds to get to where he his now so all those attack on him would not go anywhere or affect him that much.
 

  Honestly, if we are only talking about the performances, what I saw is that Cz is good and manages well. I saw that he really took care of their client users on their exchange platform, especially if a hacker suddenly gets into their exchange platform. The trust of the users is maintained, even though it has happened several times.

  Now, let's say to the new CEO that it's still a little groping and he should quickly think of good plans to do. So far, I haven't seen a good performance because I've heard of other countries that are held by Binance. It looks like no action has been taken yet, and it seems that the country that uses their platform is not paying attention. I hope it will be done soon because now that it has been given a grace period of 3 months, if Binance does not do it this way, it will be a big loss for them.

What CZ have done is good for their business. He only cared about making profits not the community that is the Binance is one of the graveyards of dead altcoin. There are lots of project that is backed by binance and later abandoned. They also list project for money even their project is not potentially good for the long run. Just look at the delist news on binance and you will see they are delisting old projects every month. It is true that this is not their fault that project stop their development but what will happens to their community who invested into them. Why don't they put those project in the red zone before delisting them.

[glendall]

What I hope right now is there will be no changes regarding their rules and regulations because lots of people are using their platforms especially their convenient exchanges which is the best for me overall. Maybe this is just one of their way to further improve their exchanges and other platforms because the competition in the crypto market has been tight recently and with the SEC pressuring them against something, they are force to make some surprise move in order to preserve the company and also to protect their reputations.

just like my expectations, the previous rules do not need to be replaced with new ones because I personally already feel comfortable trading on Binance,
I hope that with the new CEO, Binance will be more successful and the safety of users will be prioritized

[EarnOnVictor]

I really hope that the change of the CEO will not have a big impact, the Binance exchange evokes only positive emotions. The whole journey that has already been done cannot just go downhill. A change in leadership can open up new perspectives and opportunities for a company to grow and adapt to changing market conditions.

Getting a new CEO is a good news for binance since CZ had been accused of money laundering and the case is still in court.
If he continues to become the CEO of binance, that would have a negative impact on the exchange immediately. Resigning is a good news and we hope to see more hands that would work together to make binance more bigger and a better exchange for her customers.
There are speculations that binance is going to fall but this news is not good enough to make the exchange crash.

Those who speculate that Binance will fall are enemies of progress. This is not such a situation that makes companies fall, there are many like Barclays Bank and even JP Morgan Chase Bank that were heavily sanctioned in the past but are still fully in business. Binance is a good exchange and it's well-capitalized, there is no issue with it. And even if CZ didn't want to step down, no one would force him. But as a man of integrity in society, he did that, and I believe it's a welcome development as the company would use this opportunity to breathe after the issues, not being under the management of someone that is under scrutiny, that could be very bad antecedent as his decisions might be affected as well.

CZ himself is worth $15 billion dollars, he's a big boy and could even pay the money all by himself, so I don't see any reason why Binance would fall. I can only hope that the new CEO can do the right thing to keep the exchange moving forward. CZ definitely understand the business better than any other rival CEOs, I hope the change will not be a challenge.

[mich]

Well now for a second time a US judge has said CZ can not leave before his trial. The judge thinks he is a flight risk to not return if he lets him leave.

Again he wanted to go to the UAE to see his 3 children and their mother. The choice of the judge is cause there is no extradition treaty with UAE and US.

https://markets.businessinsider.com/news/currencies/binances-cz-denied-permission-to-travel-by-us-judge-for-the-second-time-1032933058

[mich]

Well now the US judge did approve the $4.3 Billion settlement that Binance did agree to pay. The settlement is for anti-money laundering and sanctions violations.

This fine is the largest settlement in federal financial prosecutions history. https://www.barrons.com/news/us-judge-approves-4-3-bn-penalty-for-crypto-giant-binance-189d4b92

[JayTrain]

I believe that despite the change in the CEO of Binance, the exchange's development trajectory has not changed, and it remains a top exchange with huge daily trading volumes. I somehow feel that CZ hasn't really stepped back from involvement, and his influence is still there. The main thing is that this news didn't particularly negatively affect the market, so it's not all bad in this situation.

[passwordnow]

I believe that despite the change in the CEO of Binance, the exchange's development trajectory has not changed, and it remains a top exchange with huge daily trading volumes. I somehow feel that CZ hasn't really stepped back from involvement, and his influence is still there. The main thing is that this news didn't particularly negatively affect the market, so it's not all bad in this situation.

It still remains to the be the top volume exchange. The new CEO doesn't have to change anything as during the reign and management of CZ, he's all set it so, there's not that much to think of for the new CEO but the settlements and fines that Binance itself had received. I don't even think that there's an anticipation that the change of leadership will impact negativity to the market itself or for the company per se. What matters there is that it is just going to make the operation keep going and as the new CEO might have a different approach, as long as things that have been set by CZ is working and 100% perfect for the system then he has to focus into cleansing of the issues that CZ has left.

The settlement is for anti-money laundering and sanctions violations.

Does Binance does any other violations that they should be sanctioned for aside from these matters that they've already settled? I think outside US, they might also face a lot of problems as it is creating a domino impact for most countries if they know that they can milk such money from them.

[spiker777]

I really hope that the change of the CEO will not have a big impact, the Binance exchange evokes only positive emotions. The whole journey that has already been done cannot just go downhill. A change in leadership can open up new perspectives and opportunities for a company to grow and adapt to changing market conditions.

You are right. I hope that too.. It is good to see that everything is going well so far. New CEO is doing a pretty good job in maintaining everything. the only noticiable thing being happening is the rapidily listing several tokens and launchpools in short period of time.
which I think might be bad for long term because binance can loose crediblity if it keeps listing so many tokens one by one in short period of time. but maybe I am wrong maybe it'll increase binance's userbase and make it even bigger,

Well now the US judge did approve the $4.3 Billion settlement that Binance did agree to pay. The settlement is for anti-money laundering and sanctions violations.

This fine is the largest settlement in federal financial prosecutions history. https://www.barrons.com/news/us-judge-approves-4-3-bn-penalty-for-crypto-giant-binance-189d4b92

so does taht means all charges on him will be lefted?
I wonder if he will take back his position in binance or not 

[SFMHodler]

Damn, I completely missed that news (not so new anymore) that CZ is out .

[mich]

Well now the US prosecutors are asking CZ to run over his Canadian passport and all travel documents. They do not want him to try to leave the country before his trial date.

This does come after he agrees to pay $4.3 Billion settlement. https://bitcoinnews.com/legal/changpeng-zhao-confiscate-passports/