Binance, one of the world’s leading cryptocurrency exchanges, has announced that its General Manager for Kazakhstan, Zhaslan Madiev, is now the Minister of Digital Development for Kazakhstan. Madiev’s appointment into government is a significant transition from the crypto world.
Binance CEO’s Congratulatory Message
Richard Teng, CEO of Binance, took to the social media platform X to share the news with the Binance community. He also extended his wishes to Zhaslan Madiev in his new position. Teng expressed confidence that Madiev’s extensive experience and commitment to the digital sector would contribute significantly to Kazakhstan’s digital development initiatives.
Teng further highlighted Madiev’s passion and expertise as key factors that would propel Kazakhstan’s digital advancement.
Kazakhstan has been actively pursuing digital transformation, focusing on harnessing technology to drive economic growth and modernization. Analysts believe that Madiev’s role as the Minister of Digital Development will likely promote the adoption of digital initiatives.Â
Additionally, it is poised to drive technological advancement and foster an environment conducive to innovation.
Madiev Appointment: A Turnaround in Binance’s Woes?
This appointment of Madiev marks a turnaround for Binance, the digital exchange embroiled by negative news in recent times. Just last month, Binance founder and former CEO Changpeng ‘CZ’ Zhao was sentenced to a 4-month jail term, in an unexpectedly relaxed sentencing after pleading guilty in a U.S court.
Meanwhile, Africa’s most populous country, Nigeria is working with INTERPOL and the Kenyan authorities to finalize the extradition paperwork of Binance executive, Nadeem Anjarwalla who fled from custody to Kenya.
Despite this bearish news, Binance somehow has managed to stay afloat. Surprisingly, the exchange played a role in arresting a suspect linked to the rug pull of gambling site ZKasino. The exchange revealed that the efforts of its investigation team played a role in the recovery of €11.4 million in assets.
