Binance chief financial officer Kaiser Ng said on Nov. 8 that he had decided to build something of his own after five years in the role, naming Justin Yek as the exchange’s next CFO.
Ng linked his next chapter to interests in tokenization across sports, entertainment, and other assets. He wrote on X:
“After five years as CFO of Binance, I have decided to go build something of my own.”
In a reply later on Nov. 8, Ng said he had informed management of his decision months earlier and that the transition itself took months.
Binance founder Changpeng Zhao (CZ) likewise described advance knowledge of the plans. In his Nov. 8 response to Ng’s announcement, he said Ng had shared his intention to build a startup months earlier, praised his work and wished him success.
Ng’s Nov. 8 post names a successor and describes founder ambitions; it does not date the handover or announce a venture launch.
The sources do not give Justin’s surname or start date, an effective handover date, or a venture launch. CZ’s general backing interest is not an investment commitment.
CZ also expressed YZiLabs’ general interest in backing ventures founded by current or former colleagues.
Richard Teng added a supportive reply on Nov. 9, saying he had enjoyed working alongside Ng and expected excitement ahead.
Ng’s next chapter centers on tokenization
In his original post, Ng described several projects he was passionate about for what comes next. His interests ranged from basketball and music to GPUs, robotics, gold and collectibles, which he discussed in connection with tokenization.
Sports and entertainment feature alongside computing hardware and physical assets in that list. The common thread in his account is an interest in bringing real-world assets onto blockchains.
He presented a range of possible directions for his next chapter, without announcing a company name, product launch or timetable.
Ng also did not set out funding terms for the projects, and CZ’s general willingness to back colleague-founded ventures supplies no commitment to any particular one.
He also reflected on the finance operation he helped build, saying that he credited the team with developing ideas and revenue opportunities beyond a back-office function, describing a broader contribution to Binance’s business.
He also thanked colleagues, regulators, business partners, advisers and auditors.