Binance CEO: He Yi is in charge of the HR department, the company is in good financial condition, and is not considering an IPO

BlockBeats news, on August 22, Binance CEO Richard Teng said in an interview with CoinDesk that Binance is currently in a sound financial position and is not considering an IPO. Binance has been profitable since its fifth month of establishment and is very cautious in spending.

Teng emphasized that the company is strengthening its relationship with global regulators to ensure continued development in the next 50 to 100 years. This strategy includes transparent company operations and finding a long-term headquarters. At present, Binance does not plan to expand into the US market, and the focus is on markets outside the United States.

Speaking of CZ, Richard Teng said that as part of the settlement agreement with the United States, CZ cannot participate in the company's operations. But CZ's partner and Binance co-founder He Yi is still a "key member" of the management team. He Yi is involved in all aspects of the business and is in charge of Binance's human resources department. Richard Teng called He Yi "a very talented and highly independent-minded person."

In addition, Teng urged the Nigerian government to release Binance's American employee Tigran Gambaryan, who has been detained in Nigeria since February.