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Binance’s new CEO Richard Teng: Binance’s financial situation is very good and fines are not a problem

Richard Teng, the new CEO of Binance, responded to community members' concerns about whether Binance can afford the penalties in the settlement agreement, stating, "Binance's financial situation is very good, and our business foundation is very solid. We have been profitable almost from day one and have remained profitable since then.In terms of trading volume, we are still the largest cryptocurrency exchange in the world. US regulators have not claimed that Binance has misappropriated any user funds. User funds are supported 1:1, and users can choose to withdraw 100% of their funds at any time. Binance has more registered users than ever before, currently reaching 166 million.These fines are not a problem. We will continue to move forward, our expenses are reasonable, but our profits and revenue are strong."

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