Binance CFO leaves the company to tokenize real assets

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.

Sources and evidence

Sources

1. @kaizng statement
2. @cz_binance response
3. @kaizng statement

Supporting facts

• Kaiser Ng (@kaizng) said on Nov. 8 that after five years as Binance CFO he had decided to build something of his own. [1]
• Reported statement Kaiser Ng (@kaizng) named Justin as Binance’s next CFO in his Nov. 8 post without giving a surname, previous role or start date. [1]
• Kaiser Ng (@kaizng) described several projects he was passionate about for his next chapter, citing basketball, music, GPUs, robotics, gold and collectibles in discussing tokenization, and invited people with relevant interests to contact him about potentially joining his team. [1]
• Reported statement CZ (@cz_binance) said on Nov. 8 that Ng had shared startup plans a few months earlier and expressed YZiLabs’ general interest in backing ventures founded by current or former colleagues. [2]
• Kaiser Ng (@kaizng) said in a Nov. 8 reply that he informed management of his decision a few months earlier and that the transition took months. [3]

Method

Qualitative relationship diagram from selected retained statements. Earlier conversations are shown as the speakers' retrospective accounts. Connections group disclosures; spacing is not elapsed time. No numerical calculation or forecast.

Scope

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.

Infographic by CryptoSlate

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.