Binance names Richard Teng as new CEO as founder CZ admits mistakes.

Binance names Richard Teng as new CEO as founder CZ admits mistakes. Zhao took to X to both apologize for his mistakes and announce Teng's ascension to CEO. "Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility," he said. "Binance is no longer a baby. It is time for me to let it walk and run. I know Binance will continue to grow and excel with the deep bench it has. I’m pleased to announce that Richard Teng ... has been named the new CEO of Binance today."