Binance has quietly reshuffled their China and US ‘generals’ with the appointment of Terence Zeng as head of Greater China and Brian Brooks as CEO of Binance USA.
Brooks is probably familiar as the guy who went from Coinbase to OCC and now to Binance, but little is known about Zeng, including whether that is his real name at all.
Apparently there are no pictures of him, ostensibly for his security, and there appears to be little online that fits his background beyond the announcement itself.
Zeng apparently graduated from Johns Hopkins University in the United States and holds a law degree from the University of Hong Kong.
He once worked in the private bank asset management department of the internationally renowned investment bank HSBC and the capital market department of Bank of China International. He has participated in many tens of billions of dollars in investment and financing, and IPO projects.
Prior to joining Binance, he served as a director of an established Hong Kong securities company and was a licensee of a financial company.
Some local sources also say he has a government background, but we couldn’t ascertain just what sort of government background or whether that is indeed the case at all.
In an interview with local media, Zeng said “the user growth in Greater China has been particularly significant” with his focus being walking the fine balance between promoting crypto in China while being fully compliant with local law.
It’s not clear why Binance decided to make these changes at the top in its two key regions, but everyone is keeping their eyes open for the smallest sign of China softening their approach towards cryptos.
Previously when there was such speculation, a crackdown followed as China made it clear there’s no detente.
But with a new administration in the United States, and some moves by Biden that has some wondering whether the United States has now a very great chess player, it may well be that China finds itself at a crossroads again in its relationship with the west.
And so perhaps they are once more considering whether to detente which hopefully would start with opening our crypto exchanges.