Binance Hiring 1,000 as Compliance Spending Tops $200M (Correct)

Binance Holdings Ltd. is hiring 1,000 people this year with many earmarked for compliance roles as the crypto exchange’s annual spending to meet regulatory requirements, including US oversight under a plea deal, tops $200 million.

Chief Executive Officer Richard Teng, who is visiting the US to talk to monitors and officials, outlined the employment goals for the world’s largest crypto trading platform in an interview with Bloomberg News in New York on Wednesday.

Richard Teng.

Photographer: Nathan Laine/Bloomberg

“I’ve been a regulator all my life,” Teng said. “Government agencies are important.” He declined to say whether he has met with the Securities and ...