A Growing List of Departing Binance Executives: Cabossioras Joins the Roster

<p>Binance
France has seen another change in its leadership as Stéphanie Cabossioras
stepped down from her position as the Executive Director. Her departure marks
yet another senior executive leaving Binance this year, adding to the leadership transitions within the cryptocurrency exchange.</p><p>Binance France Experiences
Leadership Change</p><p>David
Prinçay, the President of Binance France, confirmed Cabossioras' resignation in
a recent post on the social platform X (formerly known as Twitter). Prinçay
expressed his gratitude for Cabossioras' contributions to Binance France and
wished her the best in her future endeavors.</p><p>Cabossioras
initially joined Binance in April 2022, serving as the Head of Legal at the
French branch of the cryptocurrency exchange. In November of the same year, she
was promoted to the position of executive director. Her
background includes experience as the general counsel at Autorité des Marchés
Financiers, the organization responsible for financial regulation in the
Canadian province of Quebec.</p><p>Despite
the leadership change, a spokesperson from Binance reassured that the
operations of the company's French-based branch remain unaffected, emphasizing
that her departure has had little impact on its operations.</p><blockquote><p lang="en" dir="ltr">Binance’s Stéphanie Cabossioras has stepped down from her position as managing director at the crypto exchange’s French unit, adding to the list of senior executive departures this year <a href="https://t.co/Vi9iDhnvwC">https://t.co/Vi9iDhnvwC</a></p>— Bloomberg Crypto (@crypto) <a href="https://twitter.com/crypto/status/1714770909557379323?ref_src=twsrc%5Etfw">October 18, 2023</a></blockquote><p>Binance's Response to
Leadership Changes and Legal Challenges</p><p>The
departure of Cabossioras adds her name to a growing list of senior executives
who have left Binance throughout the year. Notably, in July, three other
executives, including Patrick Hilman, the Chief Strategy Officer;
Han Ng, the General Counsel; and Steve Milton, the Global Vice President of Marketing and Communications; announced their departure.</p><p>Changpeng "CZ" Zhao, the CEO of Binance, addressed these changes in leadership,
describing them as part of the company's natural evolution. He dismissed
reports on these departures as FUD, which stands for "fear, uncertainty,
and doubt."</p><p>Binance
has been facing increasing legal challenges, especially in the United States,
where regulators have launched lawsuits against the exchange and its
affiliates. In March, the <a href="https://www.financemagnates.com/tag/cftc/">Commodities
Futures Trading Commission</a> sued CZ, Binance, and its affiliates for
alleged trading violations.</p><p>In
June, the <a href="https://www.financemagnates.com/tag/sec/">US Securities and
Exchange Commission</a> initiated legal proceedings against CZ, <a href="https://www.financemagnates.com/tag/binance/">Binance</a>, and its
affiliates, accusing them of operating as an unregistered securities broker,
among other charges. These legal troubles have added to the challenges faced by
the <a href="https://www.financemagnates.com/tag/cryptocurrency/">cryptocurrency</a>
exchange in the increasingly regulated cryptocurrency industry.</p>

This article was written by Tareq Sikder at www.financemagnates.com.