Binance hiring 1,000 as compliance spending tops $200 million

Binance plans to have a 700-strong compliance workforce by the end of 2024, up from about 500 currently, chief executive officer Richard Teng said. “I’ve been a regulator all my life,” Teng said. “Government agencies are important.” He declined to say whether he has met with the securities and exchange commission during his trip. The SEC is suing Binance and wasn’t part of the US settlement.