Exodus of Binance executives continues as regulator pressures mount
<img width="250" height="170" src="https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Exodus-of-Binance-executives-continues-as-regulator-pressures-mount-5167032937iStock-1432789000-250×170.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Exodus-of-Binance-executives-continues-as-regulator-pressures-mount-5167032937iStock-1432789000-250×170.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Exodus-of-Binance-executives-continues-as-regulator-pressures-mount-5167032937iStock-1432789000-700×476.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Exodus-of-Binance-executives-continues-as-regulator-pressures-mount-5167032937iStock-1432789000-768×522.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Exodus-of-Binance-executives-continues-as-regulator-pressures-mount-5167032937iStock-1432789000-120×82.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Exodus-of-Binance-executives-continues-as-regulator-pressures-mount-5167032937iStock-1432789000-245×167.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Exodus-of-Binance-executives-continues-as-regulator-pressures-mount-5167032937iStock-1432789000-500×340.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-Exodus-of-Binance-executives-continues-as-regulator-pressures-mount-5167032937iStock-1432789000.jpg 1241w" sizes="(max-width: 250px) 100vw, 250px" /><p><span data-contrast="auto">Earlier this month, reports of the departure of <a href="https://www.leaprate.com/news/another-top-executive-resigns-from-binance/" target="_blank" rel="noopener">Mayur Kamut</a>, the Binance Head of Product, were issued in the wake of other key resignations, which included the Chief Strategy Officer, Patrick Hillmann, and General Counsel, Hon Ng. The company also lost its Senior Director of Investigations, Matthew Price, and Senior Vice President for Compliance, Steven Christie.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="auto">Experts opine the resignation of Binance Chief Executive Officer (CEO), Brian Shroder, and an announcement that the company intends to cut 100 jobs triggered these moves. The job cuts constitute approximately a third of employees and will impact its operational efficiency. Reuters approached the company for comment after the CEO’s resignation, and a Binance spokesperson commented:</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<blockquote><p><span data-contrast="auto">The actions we are taking today provide Binance US with more than seven years of financial runway and enable us to continue to serve our customers while we operate as a crypto-only exchange.</span><span data-ccp-props="{"201341983":0,"335559685":720,"335559739":160,"335559740":259}"> </span></p></blockquote>
<p><span data-contrast="auto">Binance started grabbing headlines when various financial regulators, including the U.S. Securities and Exchange Commission (SEC) and the Australian Securities and Investment Commission (ASIC), raised regulatory concerns. It also came under the radar of other authorities such as the Commodity Futures Trading Commission (CFTC).</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
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<p><span data-contrast="auto">Despite the optimistic spin Binance attempts to put on these core resignations and its legal challenges, the picture from the outside looking in is not a colourful collage.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/news/exodus-of-binance-executives-continues-as-regulator-pressures-mount/">Exodus of Binance executives continues as regulator pressures mount</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>
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