In an exclusive interview with Magazine editor Andrew Fenton in Singapore, Binance regional markets head Richard Teng dismissed any similarities between the global crypto exchange and the collapsed FTX platform.
He also denied any plans to succeed founder Changpeng “CZ” Zhao as the CEO of Binance.
Teng said that Binance has faced various challenges in different regions due to regulatory scrutiny and other issues, but it has always dealt with them effectively and maintained its financial stability and customer service.
He said that CZ’s recent tweet about “negative news/rumors, bank runs, lawsuits, closing of fiat channels, product wind downs, employee turnover,” was not a sign of Binance’s impending doom, but rather a reflection of the difficulties that the crypto industry faces.
He said that comparing Binance to FTX, which went bankrupt after losing billions of dollars in customer funds, was unfair and inaccurate.