Binance CFO Kaiser Ng Steps Down After Five Years
Binance says the departure followed a planned transition and named Justin Yek as its new chief financial officer.
Updated on Nov. 8, 2026 in People
Kaiser Ng announced on X that he is stepping down as chief financial officer of cryptocurrency exchange Binance after five years in the role. Binance named Justin Yek, most recently vice president of finance at Airwallex, as his successor.
Why it matters
The leadership change comes weeks after Binance admitted on October 29 to losing $6.3 billion worth of cryptocurrency, putting the exchange's finance leadership under renewed attention. Binance describes the transition as planned and says it had been preparing for the change for six months.
Ng's five-year tenure ends following a six-month succession process that Binance says was planned in advance. The exchange's October 29 disclosure of a $6.3 billion cryptocurrency loss is the most recent large financial figure tied to the company, though the source does not link it directly to the leadership change.
The players
Binance
Binance is one of the world's largest cryptocurrency exchanges, operating a global trading platform for digital assets.
Kaiser Ng
Kaiser Ng served as chief financial officer of Binance for five years before announcing his departure.
Justin Yek
Justin Yek was most recently vice president of finance at Airwallex before being named Binance's new chief financial officer.
The details
Ng announced his departure in a post on X, thanking BlackRock, Circle, Franklin Templeton and Mastercard in his farewell message. He said he will pursue several projects of his own, including work in basketball, music, GPUs, robotics, gold and collectibles.
Timeline
Six months before the announcement: Binance began preparing for the CFO change.
October 29: Binance admitted losing $6.3 billion worth of cryptocurrency.
Less than a week after October 29: Ng's resignation was announced.
Market Landscape
Executive turnover at leading exchanges has drawn heightened attention since the 2022 FTX collapse prompted closer scrutiny of financial controls across the crypto industry. Binance's CFO change fits that pattern, as the exchange seeks to reassure stakeholders about its finance function.
For Binance users, the CFO change itself does not alter trading, withdrawals or fees as described in the source. Customers relying on the exchange's financial reporting may watch how the new CFO handles the finance function after the October 29 loss disclosure.
The takeaway
Leadership transitions at major exchanges are worth watching closely, especially after large operational losses. Readers can track how Binance's finance function evolves under Justin Yek.
Further reading
Explore more executive moves in the People section for related coverage of leadership changes.
Source note: This article includes information reported by CryptoNinjas.
