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Binance CFO Kaiser Ng steps down, Justin Yek named new finance chief - Finance news and analysis from Global Banking & Finance Review
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Binance CFO Kaiser Ng steps down, Justin Yek named new finance chief

Published by Global Banking & Finance Review

Posted on November 7, 2026

1 min read

· Last updated: November 7, 2026

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Binance CFO Kaiser Ng Resigns, Justin Yek Takes Over as Finance Chief

Leadership Transition at Binance Following Major Security Breach

Kaiser Ng Steps Down as CFO

Nov 7 (Reuters) - Binance said on Saturday that Chief Financial Officer Kaiser Ng would leave the company and be succeeded by Justin Yek, days after hackers stole a record $6.3 billion from the world's biggest cryptocurrency exchange.

Statement from Binance Co-CEO Yi He

"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," Binance Co-Chief Executive Officer Yi He said in a statement.

Reporting and Sources

(Reporting by Carlos Méndez in Mexico City)

Key Takeaways

  • Kaiser Ng departs after 5+ years; Binance installs Justin Yek as new CFO, coming from fintech Airwallex, signaling a focus on stronger financial governance (apnews.com)
  • The CFO transition follows a $6.3 billion security breach attributed to North Korean-linked hackers, from which Binance has frozen ~$2.85 billion and replenished ~98% of impacted assets to protect users (coindesk.com)
  • Binance has reassured users, using its Secure Asset Fund for Users (SAFU) and corporate reserves to fully cover losses, while inflows and withdrawals have largely stabilized following the crisis (coindesk.com)

References

Frequently Asked Questions

Who is the new Chief Financial Officer of Binance?
Justin Yek has been named as the new Chief Financial Officer of Binance.
Why did Kaiser Ng leave his position at Binance?
Kaiser Ng left Binance to pursue a new venture after more than five years with the company.
What recent incident occurred at Binance prior to the CFO change?
Hackers stole a record $6.3 billion from Binance days before the CFO transition.
How long was the transition plan in place for the CFO change at Binance?
Binance implemented a transition plan over the last half year for the CFO change.

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