HEAD OF THE DAY
🇸🇬 Richard Teng
Source: By Binance - Binance, CC BY 4.0
🤝 From Wild West to Rulebook
Richard Teng is the new CEO of Binance, the world’s largest crypto exchange. After founder Changpeng Zhao stepped down under heavy regulatory pressure, the former regulator (including at Singapore’s Monetary Authority) is tasked with steering the company from its “Wild West” era into one of licenses, audits, and clear rules—winning over watchdogs and mainstream investors.
🚀 10x up the ladder—straight to CEO: he joined in August 2021, quickly took charge of ever-larger regions, and just over two years later jumped to the top.
👉 Lesson learned: First the founder, then the diplomat. In the long run, compliance beats disruption.
The China Survival Guide for Western Businesses
Entity setup, WeChat strategy, hiring your first local team. 12+ years on the ground in Shanghai.
