Binance taps board of directors for the first time: Bloomberg News

Binance Holdings Ltd. has named a board of directors for the first time, according to Bloomberg News, after a year marked by change and turmoil.

The board is made up of seven members, including CEO Richard Teng and three other company executives — Heina Chen, Jinkai He, and Lilai Wang. There are also three outside members, Gabriel Abed, Arnaud Ventura and Xin Wang, according to reporting from Bloomberg. 

Abed was formerly the Ambassador of Barbados to the United Arab Emirates and Kuwait and resigned from his post there two months ago, according to this LinkedIn. Ventura is an entrepreneur who founded multiple firms, including PlaNet Finance. Wang is CEO at Bayview Acquisition Corp. and advises financial institutions on mergers and acquisitions, according to her LinkedIn. 

Binance did not immediately respond to a request for comment. The firm posted the board of directors on its website, though it is unclear when that was released. 

Late last year, Binance pleaded guilty to counts of money laundering, conspiracy to conduct an unlicensed money-transmitting business and sanctions violations, agreeing to pay a total of $4.3 billion in fines. The exchange's former CEO Changpeng Zhao, known as CZ, also pleaded guilty to anti-money laundering and sanctions violations, agreed to pay a $50 million fine and stepped down from his post. His sentencing is slated for April 30. 

After CZ stepped down, Binance named Richard Teng as its new CEO. Teng previously worked as Binance's Global Head of Regional Markets.