Binance’s Regulatory Woes Pave a Path for CEO Zhao’s Heir Apparent
- Teng was recently promoted to run all markets outside US
- Binance has lost some payment services in the UK, Australia
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In mid-May, cryptocurrency exchange Binance got some bad news in a far-flung corner of its sprawling universe.
Binance’s payments partner in Australia had abruptly cut it off, meaning local customers couldn’t deposit Aussie dollars on the platform via bank transfer. The hit to business was immediate, with Binance halting all Aussie trading pairs about two weeks later, along with bank withdrawals of the local currency.