Binance’s newly appointed CEO Richard Teng declined to share the location of his company’s global headquarters with the Financial times on December 5, continuing its tradition of positioning itself as a global company.
Teng declined to discuss the company’s base of operations, stating:
“Why do you feel so entitled to those answers… Is it necessary for us to share all this information publicly? No.”
Teng added that the company’s European headquarters are in France, its Middle East headquarters are in Dubai, and the company’s global headquarters will be unveiled “as and when appropriate.”
Teng further said that Binance has submitted to audits in the locations where it is regulated. However, he did not mention specific accounting firms.
FT noted that former Binance CEO Changpeng Zhao typically maintained that Binance has no global headquarters at all. Binance’s website lists no headquarters and describes a global advisory board with members around the world. And although Binance has a holding company in Malta, the country’s regulators have denied authority over the company.
Binance’s actual base of operations has long been a point of controversy. Sources including the Financial timesclaim that the company has maintained ties with China even after officially leaving the country years ago.
Teng says critical research attracts users
Teng also discussed agreements with US agencies that require Binance to operate under a compliance monitor for up to five years. According to previous reports, the regulator is appointed by the US government.
Teng told the Financial Times:
“The compliance monitor… is a major positive… That gave a lot of confidence to users, including institutional users, who are now approaching us in a very aggressive manner.”
Binance settled charges from several US agencies in November, including the Department of Justice (DOJ), the Commodity Futures Trading Commission (CFTC) and two US Treasury Departments. In addition to agreeing to the aforementioned oversight, the company will pay billions in fines and step up its compliance efforts.
Former Binance CEO Changpeng Zhao pleaded guilty to related charges on November 21 and will be sentenced in February. He resigned as CEO the same day and was succeeded by Tang.