Richard Teng, New CEO of Binance, Discusses IPO Plans

Updated – August 21, 2024, 4:14 PM EDT

Richard Teng, the new CEO of Binance, sees no need for an IPO. He stated, “We are in very strong financial shape, so there’s really no need for us to consider any fundraising or an IPO at this time.” Teng highlighted that Binance has been profitable since its fifth month of operation and has been prudent in its spending, stating that an IPO has not been a subject of discussion.