2024

Richard

Cryptocurrency

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/binance-plans-to-hire-1000-new-employees-in-2024/" data-wpel-link="internal">Binance Plans to Hire 1,000 New Employees in 2024</a> 
Cryptocurrency exchange <a href="https://en.coin-turk.com/binance-lists-jito-jto-and-launches-spot-trading-pairs/" data-wpel-link="internal">Binance</a> plans to add 1,000 new employees to its staff throughout 2024. Binance’s new hiring initiative will particularly focus on the compliance department. The company’s new decision came right after a significant <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investment</a> of $200 million aimed at meeting regulatory requirements. 
<h2 style="text-align: justify" id="richard-teng-made-a-statement">Richard Teng Made a Statement</h2> 
Binance CEO Richard Teng conducted an interview with Bloomberg during his visit to the United States. In the interview, he announced that the exchange plans to hire 1,000 new personnel focusing on compliance roles. Teng stated that spending on compliance requirements has exceeded $200 million. These expenditures particularly cover regulatory requirements as part of agreements in the US. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-382065 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/08/binance10-2.jpg" alt="" width="740" height="415"> 
Richard Teng emphasized the importance of government institutions during his interview in New York, noting his lifelong experience as a regulator. Before being appointed as CEO of Binance, Teng served as a senior regulator at the Monetary Authority of Singapore. He also held the position of chief executive at the Abu Dhabi Global Market. 
However, it was notable that Teng did not provide information on whether he met with SEC officials. Following Binance’s $4.3 billion agreements with the US Department of Justice and other institutions, the company’s expansion plans have accelerated. Binance aims to have a team of 700 in the compliance department by the end of the year, currently employing 500 in this department. 
<h2 style="text-align: justify" id="global-compliance-efforts-continue">Global Compliance Efforts Continue</h2> 
Binance CEO stated that requests from global institutions for law enforcement reached 63,000 in 2024. This figure is significantly higher than last year’s 58,000 requests. Teng added that compliance spending started at $158 million two years ago and continues to increase. 
Teng mentioned that auditors appointed by US institutions have started analyzing the company’s transaction tracking and financial statements. He described this process as “We are at the beginning,” indicating that the evaluation process is not yet complete. 
Teng also mentioned Binance’s plans to establish a global center, considering three different locations: Dubai, Abu Dhabi, and one more city. He emphasized that Binance’s profit margin is at satisfactory levels. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/binance-plans-to-hire-1000-new-employees-in-2024/" data-wpel-link="internal">Binance Plans to Hire 1,000 New Employees in 2024</a></h5>
The post <a href="https://en.coin-turk.com/binance-plans-to-hire-1000-new-employees-in-2024/" data-wpel-link="internal">Binance Plans to Hire 1,000 New Employees in 2024</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Binance Plans to Hire 1,000 New Employees in 2024

Table of Contents

COINTURK NEWS

Other articles published on Aug 22, 2024

H1 2024 sees $630m in crypto losses, exchanges take biggest hit

Anchorage Digital launches rewards program for PayPal USD custody

Veteran Trader Peter Brandt Analyzes Delayed Peak Possibilities in Bitcoin’s Latest Trends

Launch a Network with Restaked Security in Minutes: Tanssi and Symbiotic Set New Ethereum Standar...

Will Solana (SOL) Hit $150 Overcoming the Bull-Bear Combat?

Hackers Impact Cryptocurrency Prices Negatively

Join our free newsletter for daily crypto updates!