Binance hiring 1,000 as compliance spending tops $200 million

Binance Holdings Ltd aimed to hire 1,000 people in 2023, focusing on compliance roles. CEO Richard Teng highlighted the efforts to meet regulatory demands, spending over $200 million. The company aimed for a 700-strong compliance team by 2024. The firm, under legal pressure, has been restructured and continues to be profitable despite ongoing legal issues. Under Teng, Binance has adjusted the way it works with prime brokers.