Teng emphasized that Binance has been profitable since its fifth month of operation, indicating strong financial health and a careful approach to spending.
In a bid to shift towards a corporate structure, Teng aims to transition Binance from being founder-led to having governance through a board of directors.
Despite the volatile crypto landscape, Teng stated that there's no current need for Binance to pursue fundraising or an IPO, as the company is in strong financial shape.
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