It was learned that Binance, the world's largest cryptocurrency exchange, is considering appointing Richard Teng to the vacant seat after CZ resigned as CEO.
Teng currently heads Binance's regional markets outside the US and previously led the company's operations in Europe and Asia. Sources close to the talks told Forbes that Teng is a leading candidate, but talks are ongoing and the situation could change.
Binance is also preparing to announce the members of a new board that will oversee the company's management and will tap a U.S.-based third-party watchdog as part of the deal, according to people familiar with the matter.
*This is not investment advice.