CEO Richard Teng Outlines Binance Expansion Plans

Binance aims to hire 1,000 employees in 2024, expanding its workforce to tackle regulatory challenges globally.

A major portion of the new hires will focus on compliance, boosting Binance's team from 500 to 700 staff members.

Binance has increased its compliance spending to $261 million in 2024, up from $158 million in 2022.

The exchange processed 63,000 law enforcement requests in 2024, demonstrating its commitment to regulatory oversight.

CEO Richard Teng emphasizes Binance's focus on regulatory compliance while driving global business growth.

Despite legal challenges, Binance remains profitable due to its streamlined operations and strong user growth.

Binance is exploring global HQ locations, with Dubai and Abu Dhabi being considered key options for its expansion.

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