Departing Binance CFO Kaiser Ng Plans Tokenization Startup as CZ Floats YZi Labs Backing
By Unchained
AI summary of the source article
Kaiser Ng is stepping down as Binance's chief financial officer to launch a real-world asset tokenization startup. Former Airwallex vice president of finance Justin Yek has been appointed as the exchange's new CFO.
Why it matters
Yek inherits Binance’s finance function while the exchange is still working through its pledge to cover customer losses from the Oct. 29 theft.
Key facts
- Kaiser Ng is stepping down as Binance CFO to found a company tokenizing assets such as sports properties, GPUs, and gold on blockchains.
- Justin Yek, former vice president of finance at Airwallex, is taking over as Binance's new CFO.
- The leadership transition was planned over six months, preceding an October 29 theft of approximately $6.3 billion from Binance hot wallets.
Source excerpt · Unchained
Ng says his new company will bring assets from basketball to gold onchain, after Binance named Airwallex finance veteran Justin Yek to replace him in a handover it says took six months to plan. The post Departing Binance CFO Kaiser Ng Plans Tokenization Startup as CZ Floats YZi Labs Backing appeared first on Unchained .