- Binance CFO Kaiser Ng is stepping down to start a new venture, with former Airwallex finance executive Justin Yek stepping in as his successor.
- According to Binance, this leadership transition was mapped out six months ago. The disclosure followed the exchange’s revelation of a $6.3 billion security breach, though the company maintains the two events are unrelated.
Binance Chief Financial Officer Kaiser Ng is departing the cryptocurrency exchange, making way for former Airwallex finance executive Justin Yek to take over the role. The executive shift was made public on November 7, arriving shortly after Binance revealed a security compromise involving an estimated $6.3 billion in stolen digital assets.
Yi He, Binance co-CEO, stated that Ng chose to pursue a new business venture following a tenure of more than five years at the company. She noted that leadership had been preparing for this transition over the preceding six months.
After five years as CFO of Binance, I have decided to go build something of my own.
The past ten years in the digital asset exchange space have felt surprisingly short, because I enjoyed what I was doing. Having passion for what you do is so important, and I will come back to this point. 8am to 2am became a work habit. When I felt exhausted past midnight, I would just look up at the Kobe Bryant’s statue standing in the corner of my office, and go right back to the grind!
It has been the privilege of my career to help steward the finances of the world’s largest digital asset exchange through a period that tested our industry in every way: bull and bear cycles, Operation Choke Point 2.0, and a regulatory landscape that evolved as quickly as the technology itself. Finance is seldom the loudest function in a company, but it is where trust is earned. Over these five years, we transformed Finance from a pure back-office function into one that consistently generates new ideas and revenue opportunities for the company. We became amazing problem solvers. Finance understood the products and metrics as well as the business units themselves. Proud of what we have built together, and I am pleased to hand the keys to Justin, our next CFO.
I want to take this opportunity to thank CZ, Yi, Richard, and the leadership team for their confidence and, above all, the amazing Binancians around the world whom I had the honor of working with. You are the reason the company stands where it does today. Binance is in very capable hands.
The company continues to grow and evolve with the successful launch of TradFi assets and AI-powered user interfaces. I’d like to express my gratitude to MGX for the trust; to our home regulator Abu Dhabi Global Market and all regulators we work closely with; and to our business partners, including BlackRock, Circle, Franklin Templeton, Mastercard, our banking partners and payment channels, as well as our advisors and auditors. Special thanks to Grant Thornton Singapore and everyone who has supported Binance.
As for what comes next, well, there isn’t just one project but several that I am passionate about particularly in sports and entertainment, from basketball and music, to GPUs, robotics, gold and collectibles. Bringing these real-world assets onto the blockchain through tokenization is a massive opportunity for the industry, and a big unlock for everyone. I welcome anyone with a passion in these areas to message me and potentially join my team. Even better if you love Kobe
Moving from the CFO’s chair to the founder’s is a leap, and I take it with humility. I deeply believe it is where I can make a greater contribution to AI and Web3.
For now, thank you, Binance, for five remarkable years.— Kaiser Ng (@kaizng) November 8, 2026
Yek, most recently the vice-president of finance at Airwallex, steps in to replace Ng. Yek brings a long-standing career in corporate finance, while Ng’s background includes serving as CFO at competing cryptocurrency exchange Kraken prior to his tenure at Binance.
Binance has not revealed the specific date of Ng’s departure nor provided further details regarding his upcoming venture. Furthermore, the announcement omitted any timeline for the finalization of the handover.
CFO Change Comes After $6.3 Billion Security Breach
The timing of the management shuffle has garnered significant scrutiny, occurring on the heels of one of the largest cryptocurrency thefts on record. Binance reported that the breach transpired on October 29 after attackers gained access to several employee computers.
According to the exchange, the bad actors utilized malicious software concealed inside software downloads alongside fraudulent recruitment campaigns aimed at engineers. The operation reportedly began months prior to its eventual discovery.
The FBI attributed the cyberattack to a hacking syndicate based in North Korea, though North Korea has contested the claim. Binance stated that it plans to fully reimburse all customers impacted by the event. The company has explicitly stated there is no connection between Ng’s exit and the security breach.
Yi He’s confirmation that the succession plan was established six months prior holds notable weight, establishing that the transition process began well ahead of the October 29 security incident.
Ng held the position of Binance CFO starting in January 2022, per professional records cited by Reuters. Yek’s arrival signifies a new chapter for the exchange’s financial oversight as it navigates the aftermath of the recent cyberattack.
Frequently Asked Questions
Who is replacing Kaiser Ng as Binance CFO?
Justin Yek, a former finance executive at Airwallex, is taking over the role of Chief Financial Officer at Binance.
Is Kaiser Ng’s departure linked to the $6.3 billion security breach?
No. Binance has explicitly stated that the two events are not linked, noting that the leadership transition was planned six months prior to the breach.
When did Kaiser Ng start working at Binance?
Kaiser Ng began serving as Binance’s CFO in January 2022 after previously holding the same position at Kraken.
What caused the October 29 security breach at Binance?
The breach occurred after attackers compromised multiple employee computers using malware hidden within software downloads and fake recruitment schemes targeting engineers.
