Binance chief financial officer Kaiser Ng is leaving the exchange after more than five years to pursue a new venture. He will be replaced by Justin Yek, formerly vice-president of finance at Airwallex.
What Binance said
Binance co-CEO Yi He confirmed the departure in a statement issued Saturday: "Kaiser Ng has decided to pursue a new venture after more than five years at Binance, with a transition plan implemented over the last half year."
The statement does not give a date for when Yek formally takes over as CFO, nor any detail on Ng's new venture.
Who is Kaiser Ng
Ng joined Binance in early 2022, moving directly from the same role at Kraken. In total, he has spent close to a decade as finance chief at two crypto exchanges.
- Binance CFO since January 2022, according to his LinkedIn profile
- Before Binance, CFO at Kraken for about five years
- Stated reason for leaving, per Binance: a new venture of his own
Who is Justin Yek
Justin Yek joins from Airwallex, where he served as vice-president of finance. He steps into the CFO seat vacated by Ng under the transition plan prepared over the past six months.
Kaiser Ng | Justin Yek | |
|---|---|---|
Role | CFO (outgoing) | CFO (incoming) |
At Binance since | January 2022 | - |
Previous role | CFO at Kraken | VP of finance at Airwallex |
The context: a $6.3B hack
The CFO change comes a little more than a week after Binance suffered the largest cryptocurrency theft on record.
- Date of the attack: October 29, 2026
- Amount stolen: about $6.3B
- Attribution: the FBI and several researchers point to North Korean hackers
- North Korea has denied involvement
- Losses: absorbed by Binance, not passed on to customers
There is no confirmation that Ng's departure is linked to the hack. According to Yi He's statement, the transition plan was implemented over the last half year, which means it started before October 29.
For you as a user, Binance's decision to absorb the losses means the $6.3B bill stays on the company's balance sheet - the exact area the incoming CFO will manage.