Ever wondered who's steering the ship at one of the biggest crypto exchanges in the world? Binance, the platform where countless meme tokens launch and trade, has a new captain: Richard Teng. Recently highlighted in a BSC News profile, Teng's story is a fascinating shift from strict regulator to innovative leader. Let's break it down in simple terms and see how his vision could boost the meme token scene.

From Singapore Streets to Financial Watchdog

Richard Teng kicked off his career in Singapore back in 1971, where he was born. After grabbing an accounting degree from the National University of Singapore and an MBA from the University of Chicago, he dove into the world of finance. Starting as an auditor at PricewaterhouseCoopers in the '90s, Teng quickly moved up the ladder.

His big break came in 1997 when he joined the Monetary Authority of Singapore (MAS), the country's central bank and financial regulator. Over 13 years, he held key roles like Director of Corporate Finance and Chief Regulatory Officer. Think of MAS as the referee ensuring fair play in Singapore's financial markets—Teng helped shape rules that kept things stable and innovative.

In 2010, he switched to the Singapore Exchange (SGX) as Chief Regulatory Officer, where he oversaw compliance, trading rules, and risk management. Then, from 2015 to 2021, Teng led the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM). Here, he pioneered one of the first full regulatory frameworks for digital assets, basically setting the stage for crypto to go mainstream in a safe way.

Entering the Crypto Arena with Binance

Teng saw blockchain's potential for things like financial inclusion—helping people without bank accounts access money—and cross-border payments that are faster and cheaper. In August 2021, he joined Binance as CEO of its Singapore arm, focusing on local compliance and growth.

He didn't stay local for long. By November 2021, Teng was handling operations across Asia, Europe, the Middle East, and North Africa. Come April 2023, he became the global head of regional markets, nailing down licenses and partnerships worldwide.

The big moment? In November 2023, Teng stepped up as Binance's CEO after founder Changpeng Zhao (CZ) stepped down amid a U.S. Department of Justice settlement over compliance issues. This wasn't just a title change; it marked Binance evolving from a founder-driven startup to a board-governed powerhouse, prioritizing rules and trust.

Achievements Under Teng's Watch

Since taking the helm, Teng has been all about building bridges with regulators. By October 2025, Binance snagged approvals in 18 jurisdictions, from virtual asset licenses to full exchange operations. The user base exploded from 170 million in early 2024 to over 275 million by mid-2025—that's 150,000 new sign-ups daily!

For meme token enthusiasts, this growth means more liquidity and trading volume on platforms like Binance Smart Chain (BSC), where memes thrive. Teng's team launched Binance Alpha in 2024, a spot for early-stage tokens to get listed, potentially giving meme projects a faster path to visibility. Plus, a 2025 partnership with Mastercard integrated Binance Pay, making it easier to spend crypto gains from meme trades.

Another win: The U.S. SEC dropped its lawsuit against Binance in June 2025, which Teng called a step toward clearer rules. This could open doors for more U.S.-based meme token activity on the exchange.

Teng keeps it real with advice like using market dips to learn and prepare, noting that crypto cycles mirror traditional assets but with huge long-term potential.

Navigating Controversies and Looking Ahead

Binance's past isn't spotless—a $4.3 billion settlement with U.S. agencies for anti-money laundering lapses led to CZ's short prison stint. This made some big investors wary, but Teng is flipping the script by ramping up compliance and transparency.

Looking forward, Teng envisions tokenized assets (like blockchain versions of stocks or bonds) and tools for big institutions to jump in safely. For meme tokens, this could mean better infrastructure on BSC, more educational resources, and expansion into hot spots like Africa and Southeast Asia.

With global crypto adoption at just 7-8%, Teng predicts a boom as it hits 10%, thanks to network effects—basically, more users mean more value. Challenges remain, like regulatory hurdles in the U.S. and competition from rivals like Coinbase or DEXs like Uniswap.

Binance under Teng is debt-free, profitable, and charging low fees, aiming to stick around for 50-100 years. For meme insiders, this stability could supercharge the next wave of viral tokens.

Curious for more? Check out the original tweet from BSC News that sparked this buzz. Stay tuned to Meme Insider for the latest on how leaders like Teng are fueling the meme token revolution!