Private Equity Associate Goes Crypto In Hong Kong

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The leading cryptocurrency exchange Binance continues to expand its operations in Hong Kong both in commerce and for its growing venture capital arm.

Binance hired Chase Guo as the chief investment officer. Guo works for Binance Labs, the venture capital arm and innovation incubator of the world’s largest cryptocurrency exchange. He was previously an associate at private equity and investment firm Blackstone Group, where he worked for four years after an internship with Morgan Stanley.

As we reported yesterday, crypto firms are increasingly competing with banks and hedge funds for quantitative, technological and business talent, but Binance is also adding people with backgrounds in investing and relationships. Min Lin, a former executive director of Goldman Sachs who previously worked in client coverage in Goldman Sachs’ global markets division, also recently joined Hong Kong as executive director of global partnerships in mergers and acquisitions. Binance offers M&A internships in Hong Kong and seeks talent in business development and mergers and acquisitions (M&A), both for Labs and as part of its Global Partnerships unit.

Binance Labs has just launched season “Season 3” of its incubation program to support promising blockchain projects globally.

In August, Binance, which operates globally but does not have a head office, halted derivatives trading in Hong Kong, citing its commitment to compliance.

Founder and CEO Changpeng Zhao says he’s putting the company on a more traditional regulatory footing after Binance faced crackdowns in a number of regions. The company hired senior advisers, including Max Baucus, a former US Senator and Ambassador to China, to provide high-level regulatory advice.

When it comes to Binance recruiting, Singapore wins at the expense of Hong Kong. In August, Richard Teng – former Managing Director (CEO) of the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) – as the new CEO in Singapore. It currently advertises 89 positions in Singapore compared to only 11 in Hong Kong on its website.

If you want to work for Binance, you can always become a Binance Angel (unpaid). Binance Angels are “passionate volunteers” who can test beta versions, provide user support, and create online content and guides on using the Binance platform. They do not receive a salary, but angels are invited to Binance events as a privileged guest or organizer. They can also visit any company office at any time and will receive a personalized, limited edition “Angel Swag”.

Photo by Art Rachen on Unsplash

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