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Binance Chief Financial Officer (CFO) Kaiser Ng is leaving the cryptocurrency exchange to establish his own venture focused on artificial intelligence, Web3 and tokenized real-world assets. The leadership change follows a USD 6.3 billion cryptocurrency theft on October 29, although succession planning reportedly preceded the breach.
According to Reuters, Binance co-CEO Yi He confirmed Ng's departure after five years. '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,' Yi He said.
Justin Yek, formerly Airwallex's finance vice president, will assume the CFO position. Ng has held Binance's chief financial officer role since January 2022 after working at Kraken.
In a November 8 statement on X, Ng described his decision to move from financial leadership into entrepreneurship. 'After five years as CFO of Binance, I have decided to go build something of my own,' he wrote.
His proposed ventures span robotics, graphics processing units, gold, collectibles and entertainment, including blockchain applications.
'Bringing these real-world assets onto the blockchain through tokenization is a massive opportunity for the industry, and a big unlock for everyone,' Ng stated. He also acknowledged Abu Dhabi investment firm MGX, which invested USD 2 billion in Binance in March 2025.
The executive transition comes shortly after Binance disclosed a sophisticated attack involving compromised employee computers and fraudulent recruitment approaches. According to Reuters, the exchange pledged to reimburse affected customers after the theft.
The FBI attributed the attack to a North Korean hacking group, an allegation North Korea denied. The timing has heightened scrutiny of the exchange's operations.
Binance has also pursued tokenized securities through initiatives involving Bstocks and Ondo Global Markets, alongside seven AI agent skills introduced in March.
Ng said he believes entrepreneurship offers an opportunity to contribute more directly to AI and Web3. His departure spotlights Binance's financial leadership and security response.
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