- Binance CFO Kaiser Ng is leaving to pursue a new venture, with former Airwallex finance executive Justin Yek taking over.
- Binance says the transition was planned six months ago. The announcement came shortly after the exchange disclosed a $6.3 billion security breach, but the company has not linked the two events.
Binance Chief Financial Officer Kaiser Ng is leaving the cryptocurrency exchange, with former Airwallex finance executive Justin Yek taking over the position. The leadership change was announced on November 7, shortly after Binance disclosed a security breach involving approximately $6.3 billion in stolen cryptocurrency.
Binance co-CEO Yi He said Ng had decided to pursue a new venture after spending more than five years at the exchange. She added that the company had been preparing for the leadership transition over the past 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, who most recently served as vice-president of finance at Airwallex, will replace Ng as the exchange’s new CFO. He is a longtime finance executive, while Ng previously held the same position at rival cryptocurrency exchange Kraken before joining Binance.
Binance did not disclose the exact date Ng will leave the company or provide further details about his next venture. The announcement also did not specify the timeline for completing the handover.
CFO Change Comes After $6.3 Billion Security Breach
The timing of the leadership change has drawn attention because it follows one of the largest cryptocurrency thefts reported to date. Binance said the breach took place on October 29 and involved attackers compromising several employees’ computers.
According to the exchange, the attackers used malware hidden in software downloads and fake recruitment efforts targeting engineers. The incident began months before the theft was discovered, Binance said.
The FBI attributed the attack to a North Korean hacking group. North Korea has denied the allegation. Binance said it would fully reimburse customers affected by the incident. The exchange has not linked Ng’s departure to the security breach.
Yi He’s statement that the transition plan had been in place for six months is significant because it indicates the succession process began well before the October 29 incident.
Ng has served as Binance’s CFO since January 2022, according to his professional profile cited by Reuters. Yek’s appointment marks a change in the exchange’s finance leadership as it deals with the aftermath of the security incident.
