Binance CEO Richard Teng, during an AMA session, clarified the company’s stance on fundamental issues and its future plans. The fact that he started as CEO of Binance during a challenging period adds special significance to his words.
The CEO emphasized the firm stance of the cryptocurrency exchange Binance against traditional venture capital (VC) approaches. The platform’s leadership aims to steer the crypto environment with a unique perspective while maintaining its independence.
Acknowledging user concerns about the BN wallet experience, Teng promised that improvements would be made to enhance user satisfaction and functionality.
Speaking about the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC), the CEO expressed his belief that the outcome would be positive for Binance. Despite regulatory scrutiny, it was highlighted that Binance continues its operations with determination and confidence, and the company has no plans to go public.
The CEO also addressed concerns within the crypto community, criticizing founders who prioritize short-term gains and ostentatious lifestyles over a long-term vision. Binance plans to rejuvenate incubation projects to foster innovation and support promising projects in the cryptocurrency space.