U.Today - In a surprising turn of events, crypto enthusiasts have unearthed a significant link between the newly appointed Binance CEO, , and the world-renowned provider of crypto solutions for business, Ripple.
Teng, who recently took the reins from in the aftermath of a groundbreaking $4 billion settlement between Binance and U.S. regulatory authorities, has a history that intertwines with Ripple's expansive network.
Digging into Teng's professional background reveals that he was once a key member of the board of directors at LuLu Finance. During Teng's tenure, the company solidified a partnership with , marking a significant chapter in the history of cross-border blockchain money transfers.
The Ripple-LuLu connection did not end there. In May 2023, Tranglo, a longstanding partner of Ripple, initiated its expansion into the Middle East through a strategic partnership with Lulu Money, a subsidiary of LuLu Financial Holdings.
Singapore link
Adding to the intrigue is Teng's extensive background at the Monetary Authority of Singapore, where he spent over a decade before leading Binance Singapore. Interestingly, in October of this year, Ripple secured a license to operate in from the same monetary authority, signaling a strategic move into the Asian market.While the connections between Teng and Ripple are nuanced, they hint at least at a profound understanding of the new CEO's side of Ripple's business and the capabilities of .
As the crypto space watches with bated breath, Teng's ascent to the helm of world's largest crypto exchange may usher in a new era of collaboration and innovation within the industry.