Binance’s chief financial officer, Kaiser Ng, is leaving the exchange, according to a report relayed by Cointelegraph on November 8. Reuters first reported the departure, citing a statement from Binance co-CEO Yi He, who said Ng “has decided to pursue a new venture” after more than five years at the company. Yi He also said a transition plan had been in place for the past six months.
According to Ng’s LinkedIn profile, as cited by Cointelegraph, he has served as Binance’s CFO since January 2022. Before joining, he spent about five years as CFO at the crypto exchange Kraken. Reuters reported that Justin Yek, previously vice president of finance at Airwallex, will replace him.
The announcement comes a little over a week after hackers stole about $6.3 billion from Binance on October 29, which Cointelegraph describes as the largest cryptocurrency theft on record. Binance has said it will absorb the losses instead of passing them to customers, and the FBI and several researchers have attributed the attack to North Korean hackers, a claim North Korea has denied.
Neither Cointelegraph nor Reuters, as relayed, linked the CFO exit to the breach, and the company’s account is that the handover was planned long before it. Ng’s next venture has not been disclosed in the reporting. Binance has not detailed when Yek will formally start in the role.
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