Kaiser Ng, the chief financial officer of Binance, is stepping down from his position to pursue a new professional venture. The company has confirmed that a transition plan for his departure has been in progress for the past six months.
Ng joined Binance in January 2022. Prior to his tenure at the exchange, he served as the chief financial officer at Kraken for approximately five years. His total time spent at Binance exceeds five years.
Justin Yek has been appointed as the successor to Ng. Yek previously held the role of vice-president of finance at Airwallex. The leadership change follows a significant security incident involving the exchange.
On October 29, Binance suffered a hack resulting in the loss of $6,3 billion. This event is currently recognized as the largest cryptocurrency theft in history. The company stated it would cover these losses internally.
