Binance’s Rising Star & Meta’s VR Hesitation
GM, crypto fam ☕️
It’s a brand new week and we’re ready to dive into the crypto ocean.
So, grab your coffee mugs, HODL them tight, and get ready to DCA into today’s crypto news.
Coming up: We’ve got some juicy goatish news today, from a major shakeup at Binance to some surprising reluctance at Meta.
So, let’s dive right in!
Binance’s New Rising Star: Richard Teng
In a surprising move, Binance has handed the reins to Richard Teng, a former regulator, to oversee its regional markets outside the U.S. This move has positioned Teng as the most likely successor to Changpeng Zhao, the founder of the world’s largest crypto exchange.
The Changing of the Guard
The news of Teng’s appointment comes on the heels of reports that Zhao, also known as CZ, is looking to reduce his ownership of Binance.US, the firm’s American arm.
This move is seen as a nod to U.S. regulators, who have been closely monitoring the exchange.
Teng’s Regulatory Expertise
Teng’s background as a regulator will be invaluable in his new role. He will oversee Asia, Europe, the Middle East, and North Africa as the exchange attempts to navigate the choppy waters of regulatory scrutiny.
His experience with the Financial Services Regulatory Authority at Abu Dhabi Global Market and the Monetary Authority of Singapore will certainly come in handy.
Meta’s VR Headset Hesitation
Switching gears, let’s talk about Meta. According to a recent report, employees at Meta who are working on developing the metaverse are not exactly thrilled about using the company’s VR headsets.
The headsets have been described as “uncomfortable” and “glitchy” by several employees.
Challenges in VR Adoption at Meta
Meta’s vision revolves around creating a metaverse where people can use VR headsets to socialize and work in a digital world.
However, the report suggests that many employees across different teams, including the VR section, have not been actively using the headsets for their work.
Meta’s Response
Meta, which recently unveiled its latest Meta Quest headset, has not yet commented on the internal usage numbers of the headsets.
However, with Meta’s plans to require most employees to work in person for at least three days a week starting in September, adopting VR headsets may face further challenges.
As Meta continues to navigate the challenges associated with VR technology, it remains to be seen how the company will address employee concerns and propel its vision for the metaverse forward.
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