Binance replaces CFO Kaiser Ng after five years
Key points
- Binance CFO Kaiser Ng is leaving after more than five years, with Justin Yek appointed as his successor.
- Yek previously served as vice-president of finance at payments company Airwallex, while Ng joined Binance in January 2022.
- The leadership change comes days after a reported $6.3 billion cryptocurrency theft from the exchange.
Binance is replacing Chief Financial Officer Kaiser Ng with Justin Yek following Ng's departure after five years.
Yek previously served as vice-president of finance at Airwallex, while Ng became Binance CFO in January 2022.
“Kaiser Ng has decided to pursue a new venture,” Binance Co-CEO Yi He said in a statement.
Yi He said the company had implemented a transition plan over the previous six months.
Yek brings previous financial leadership experience from Airwallex, while Ng previously worked at rival cryptocurrency exchange Kraken.
The appointment follows a reported $6.3 billion cryptocurrency theft involving compromised employee computers and malicious software.
Binance has pledged to fully reimburse affected customers, while the FBI attributed the attack to North Korean hackers.
The leadership transition places Yek in charge of Binance's finances as the exchange manages the fallout from its security breach.
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