Binance's regulatory challenges have led to the emergence of Richard Teng as a possible heir to CEO Changpeng Zhao. Teng, who has senior positions at Singapore’s central bank and Abu Dhabi’s international free-trade zone on his resume, was appointed head of all regional markets outside the US in May 2022. Binance is facing investigations or enforcement action from at least four US federal agencies, regulators in Canada and Australia, and Dubai. The Commodity Futures Trading Commission sued Binance and Zhao for allegedly violating derivatives regulations in March 2022 while the Securities and Exchange Commission filed its own suit against them in June 2022 alleging that the firm flouted investor protection rules by operating unregistered exchanges among other violations.

SEC claiming SOL, ADA, MATIC, FIL, ATOM, SAND etc are all securities.

On June 6th, the SEC stated in the filing that as of 2021, at least $145 million had been transferred from BAM Trading to the Sigma Chain account, and an additional $45 million had been transferred from BAM Trading's trust company B account to the Sigma Chain account. Sigma Chain is an active market maker on the Binance. US platform. From this account, Sigma Chain spent $11 million to purchase a yacht.

On June 6th, the SEC stated in its accusation files against Binance and CZ that CZ individuals received $62.5 million from a bank account in Binance between October 2022 and January 2023.

Changpeng Zhao, CEO of Binance, has stated that the exchange's systems are stable and that withdrawals and deposits are processing as normal, despite the recent lawsuit filed against the company by the US Securities and Exchange Commission (SEC). In a tweet, Zhao said that the team is standing by and awaiting the complaint, as the media has received information before the exchange has. He also stated that Binance will issue a response once they have seen the complaint.

The CEO of Binance, Changpeng "CZ" Zhao, and the crypto exchange itself are being sued by the U.S. Securities and Exchange Commission (SEC) for allegedly violating federal securities laws. The SEC claims that Binance operated an unlicensed stock exchange and committed other violations.

Binance, a crypto exchange, has hired Rachel Conlan as its new vice president of global marketing in an effort to strengthen its market share. Conlan, who previously worked at Binance rival OKX, will focus on expanding the company's user base from its current 128 million to one billion.

Bank records indicate that Guangying Chen, a senior executive at Binance, was the main operator of five bank accounts belonging to Binance's independent US affiliate, including one that held American customers' funds.

According report on Bloomberg, Binance's Head of Regional Markets Richard Teng will become the next CEO of Binance if CZ resigns due to regulatory difficulties. In late May, CZ appointed Richard Teng as the head of all regional markets outside the United States.

According to Glassnode's monitoring on June 5th, When evaluating the total amount of Bitcoin held by the top 3 exchanges three years ago, it was found that the total amount of Bitcoin held by Binance and Bitfinex increased by 421,000 BTC and 250,000 BTC respectively, while Coinbase decreased by 558,000 BTC.