Key Takeaways
- Bitget is a leading Seychelles-headquartered crypto exchange with $1.5 billion in 24 hour trading volume.
- Hon Ng was pivotal in enhancing KYC and compliance standards at Binance.
- Ng quit Binance alongside other execs shortly after U.S. regulators sued the exchange and its former CEO, Changpeng “CZ” Zhao.
Former Binance executive and decorated legal expert Hon Ng has been tapped to become the new Chief Legal Officer (CLO) and cryptocurrency exchange, Bitget.
Bitget Bags Ng
As per the announcement from Bitget, Hon Ng has been appointed as its new Chief Legal Officer (CLO). Looking back at his career, Ng has two decades of legal experience under his belt. Notably, he was recognized by the Financial Times as one of the World’s Top 20 Legal Leaders.
As per Gracy Chen, CEO at Bitget:
“Hon Ng’s extensive experience in digital and Web3-related legal and compliance affairs, as well as his outstanding track record of solving complex corporate-level issues and scaling businesses, have singled him out as the ideal candidate for the position of Chief Legal Officer at Bitget”
He worked as an attorney for several years before joining Uber as their legal director shortly before becoming its Director of Business Development.
Shortly after this, Ng jumped into crypto and Web3 when he was appointed as Binance’s General Counsel and Head of Government Affairs/Policy for a few years.
During and following this, Ng had a rather significant presence in the Hong Kong Football Association and remains on the Asian Football Confederation’s (ADC’s) legal committee.
A Tech Booster
Hon Ng has been involved in some of the most significant developments in the digital and tech space.
At Uber, he was key in growing the firm from a start-up into a publicly traded, globally-recognized brand. At Binance, Ng enhanced the exchange’s licensing and compliance standards, working with U.S. and global regulators to do so.
More specifically, he was transformative in his approach to know-your-client (KYC) procedures and safeguarding measures, which boosted Binance’s reputation considerably.
Binance Departures
Ng quit Binance as part of a broader executive exodus that rocked the leading cryptocurrency exchange in July 2023.
At that time, a few Binance execs, including Chief Strategy Officer Patrick Hillman, and interim Chief Compliance Officer (CCO) Steven Christie parted ways with the exchange. In February 2024, Christie returned to Binance as its deputy CCO.
The resignations arrived just after Binance and then-CEO Changpeng “CZ” Zhao found themselves sued by U.S. regulators. This lawsuit ended with Binance and CZ paying billions in fines, and seeing CZ sentenced to four months in prison.
Binance has seen been embroiled in several international investigations, including unpaid tax fines in India, and major allegations of money laundering and tax fraud in Nigeria.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
