Under Teng\u2019s leadership, Binance is transitioning from a founder-led structure to one managed by its board. His priorities include establishing a permanent headquarters, a goal that has long eluded the company.<\/p>\n
Despite rising cryptocurrency prices and growing interest from traditional finance, Teng emphasized<\/a> <\/strong>that Binance is in a strong financial position and does not need to consider an IPO or additional fundraising. He highlighted that the exchange has been profitable since its early days and is cautious with its expenditure.<\/p>\n Teng\u2019s approach reflects a shift towards enhanced transparency and regulatory compliance. He noted that Binance\u2019s compliance budget increased by 36% last year and emphasized the importance of building sustainable, long-term operations. Teng envisions Binance thriving for the next 50 to 100 years.<\/p>\n