Binance CEO Says Global Headquarters Location Still Undecided

Binance, the world’s largest cryptocurrency exchange, has yet to decide where to establish its global headquarters, according to CEO Richard Teng. The decision has been long anticipated, but Teng emphasized that the issue remains complicated due to various factors. In an interview during the Abu Dhabi Finance Week conference, Teng explained that tax laws and the ability to attract talent would play a significant role in the choice of location. Binance is in ongoing discussions with multiple jurisdictions, though specific locations were not disclosed.

Governance Improvements

The decision about Binance’s headquarters is seen as part of a broader effort to enhance the company’s transparency following legal issues with its former CEO, Changpeng Zhao (CZ), who pleaded guilty to violating U.S. money laundering laws earlier this year. As part of its governance overhaul, Binance appointed a new board of directors for the first time in its history, which now includes three independent members. Teng noted that Binance had shifted from a founder-led to a board-led company, though he still occasionally communicates with Zhao, who retains his shareholder rights.

Global Presence and Regulatory Outlook

Binance currently holds 20 licenses and registrations globally, including in Abu Dhabi and Dubai. The company has been focusing on improving corporate governance and transparency in response to past challenges. Teng expressed optimism about the future of cryptocurrency regulations, particularly in the U.S., with the incoming administration under President-elect Donald Trump expected to adopt a more lenient regulatory stance. Teng predicted that such a shift could encourage other nations to follow suit, further boosting the cryptocurrency sector.