Richard Teng Replaces Changpeng Zhao as Binance Pleads Guilty

On Nov. 21, 2023, at 20:36 UTC, Changpeng Zhao posted, "Today, I stepped down as CEO of Binance." Eleven minutes later, at 20:47 UTC, Richard Teng posted, “It is an honour and with the deepest humility that I step into the role of Binance’s new CEO.” The same day, the Justice Department announced that Binance Holdings Limited pleaded guilty to federal charges and agreed to pay over $4 billion, and that Zhao pleaded guilty to failing to maintain an effective anti-money laundering program.