There has been a flurry of news about Binance in the last week, and whether that news is good or bad depends on how you want to read the tea leaves. The company's many critics will look at the latest developments as proof that Binance is circling the drain ahead of a long overdue collapse—while its defenders can make a case that the company's founder, Changpeng Zhao, is playing fourth-dimensional chess while everyone is else playing checkers.
Let's start with the news that the world's biggest crypto exchange has tapped executive Richard Teng to lead all of its regional markets outside of the U.S.—a role that amounts to being Binance's global CEO in terms of duties, if not in name. This is a big development since Zhao appears to be handing over the day-to-day operations to someone else.
