Although Teng’s brief tenure as CEO has definitely accelerated Binance’s compliance efforts, the change started making an effort to be extra compliant with regulators properly earlier than Zhao stepped down in November 2023. Tigran Gambaryan, Binance’s head of monetary crime compliance, left the Inner Income Service (IRS) in 2021 to hitch the change. Noah Perlman, Binance’s chief compliance officer, began in January 2023. In 2023, Binance elevated its compliance spend by 36%.
