As the world's largest crypto exchange, Binance has spent years fending off challengers, from other crypto firms such as Coinbase and FTX to regulatory agencies, with its founder and CEO Changpeng "CZ" Zhao at the helm.
Zhao's grip on leadership appeared to loosen last week, with Binance announcing that it was promoting Richard Teng—previously regional head of Asia, Europe, and the Middle East and Northern Africa—to lead all markets outside of the U.S.
