![]() Several crypto companies have filed for Chapter 11 bankruptcy in recent months like Genesis Global Trading (a subsidiary of the crypto conglomerate Digital Currency Group (DCG), FTX, BlockFi, Three Arrows Capital, Celsius Network and Voyager. ![]() He cited additional concerns over Binance’s anti-money laundering, sanctions and compliance controls.īinance was also ordered by Belgium’s Financial Services and Markets Authority (FSMA) to immediately cease all offers of virtual currency services in the country. In June, US regulators sued Binance and its CEO Changpeng Zhao for allegedly operating a “web of deception” and filed 13 charges in a federal court.īack in August, Binance has been dumped by global payments processor amid growing regulatory concerns.Ĭheckout CEO Guillaume Pousaz terminated the company’s relationship with its once-largest customer citing “reports of regulators actions and orders in relevant jurisdictions” and “inquiries from partners”. The spokesperson also added that Norman Reed, the company’s chief legal officer, assumed Shroder’s position on an interim basis. “The SEC’s aggressive attempts to cripple our industry and the resulting impacts on our business have real-world consequences for American jobs and innovation, and this is an unfortunate example of that,” the Binance.US spokesperson was quoted as saying. Brooks has cited “differences over strategic direction” as his reason for resigning from the chief executive role.New Delhi– Leading blockchain and cryptocurrency platform Binance.US chief executive officer (CEO) Brian Shroder has stepped down from the company as it laid off one-third of its staff, or more than 100 employees, a media report said on Wednesday.Īccording to Forkast, this downsizing effort will provide Binance.US “more than seven years of financial runway”. In a tweet, Binance CEO Changpeng Zhao said that Brook’s work for Binance US had been invaluable and that he hopes Book’s will continue to be an integral part of the crypto industry’s growth moving forward. Binance has seen a number of top executives depart the company in recent months, with execs including general counsel Hon Ng, chief strategy officer Patrick Hillmann and SVP for compliance Steven Christie stepping down in July. ![]() Binance offers a wide range of services to consumers globally, from tokenised versions of stocks to crypto spot and derivatives trading, as well as its own cryptocurrency. Similarly, watchdogs in Japan, Thailand, Hong Kong, and Germany also took action against Binance over AML and consumer protection concerns. There have been a lot of negative news/rumors, bank runs, lawsuits, closing of fiat channels, product wind downs, employee turnover, exit markets, etc. Hillmann had joined the worlds largest cryptocurrency exchange in 2021 and became the chief strategy officer in October last year. Shroder took over the role of CEO of Binance US in September 2021 after the departure of then-CEO Brian Brooks and the firms first CEO, Catherine Coley, earlier that year. Binance chief strategy officer Patrick Hillmann steps down. In June, the Financial Conduct Authority ruled that Binance could no longer conduct any “regulated activity” within the United Kingdom. Binance CEO Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. However, during Brooks’ short time as CEO, Binance faced several regulatory issues around the world. ![]() He became chief executive officer of Binance US at the start of May this year. Brooks stood as acting US Comptroller of the Currency from May 2020 to January 2021, having previously served as Chief Legal Officer of Coinbase Global.
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