Binance has named Justin Yek as its new chief financial officer, replacing Kaiser Ng, who is leaving the cryptocurrency exchange after more than five years to pursue a new venture. Co-CEO Yi He announced the change in a statement on November 7, saying a transition plan had been implemented over the previous six months, according to Reuters.
Yek most recently served as vice-president of finance at Airwallex, while Ng has been Binance’s CFO since January 2022 and previously worked at Kraken. Binance has not disclosed the effective date of the handover or identified the venture Ng plans to pursue. The Block reported that the company did not provide a departure date.
The leadership change comes just over a week after hackers stole $6.3 billion in cryptocurrency from Binance on October 29. The exchange said the months-long intrusion involved malware hidden in software downloads and fake recruitment approaches targeting engineers, including the fake-job interview operation described in its account of the breach.
Yi He said the CFO transition plan had been in place for about six months, placing it well before the October 29 theft. Binance has not said the departure was connected to the security incident. The exchange’s earlier recovery update on the phased reopening of withdrawals said it would cover customer losses from the attack.
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Binance Names Justin Yek as CFO as Kaiser Ng Exits
