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It is unclear when Terence Zeng took over as CEO, but the appointment seems to have been recent.
Following the high-profile announcement of Brian Brooks as CEO of Binance.US, the Malta-based parent company has reshuffled its executive leadership by naming Terence Zeng as head of Greater China.
Zeng allegedly attended John Hopkins University and holds a law degree from the University of Hong Kong, but his online presence is restricted. According to an interview with Chain News, a China-based technology publication, he has been in charge of Binance’s Greater China division since at least early April.
Zeng introduces himself as the CEO of Binance Greater China in the April 7 interview.
“I am currently the head of Binance Greater China,” he said, according to a translated version of the interview. “Before joining Binance, I was doing finance, mainly engaged in the field of institutional investment and financing, that is, helping clients such as listed companies, fund investment, and financing.”
Zeng also worked with major investment banks in the US and Hong Kong before turning his attention to “alternative financial products,” which may have driven him to cryptocurrencies and Binance. In the interview, he admitted that his first introduction to digital assets was in 2013.
Binance is the world’s biggest cryptocurrency exchange in terms of value, but its relationship with China is complicated by the country’s ban on digital-asset trade. While progress appears to be sluggish, Beijing appears to be clearing some regulatory hurdles in order to reintroduce cryptocurrency trading in the nation.
Deputy Governor Li Bo of the People’s Bank of China recognised Bitcoin (BTC) and stablecoins as legal alternative investment options. He also did not rule out stablecoins being a “widely used payment tool.”