Binance Holdings, the company behind popular crypto platform Binance, has established a new seven-person board of directors made up of executives and independent members, Bloomberg has reported.
The board is now led by Gabriel Abed, Barbados' former ambassador to the UAE, and includes Binance CEO Richard Teng, co-founder Heina Chen and four other independent members: Xin Wang, Arnaud Ventura, Roger Wang and Rock He.
This marks a significant change in leadership since Teng's transition to CEO in November 2023, following the resignation of former CEO Changpeng Zhao.
The change in leadership came as part of a settlement agreement with US authorities, which also included a $4.3 billion fine for Binance and a guilty plea from CZ for failing to maintain an effective anti-money laundering program.