News Of Exec Departures At Binance Is FUD
Changpeng Zhao, founder of Binance, downplayed the significance of executives’ exits, describing them as “more FUD” during a regulatory crackdown on the platform, which has affected its market share.
Changpeng Zhao, founder and CEO of the world’s largest cryptocurrency exchange, defended his company in the face of what he called “more FUD about some departures.” In a tweet posted after it became clear that several executives are leaving, CZ highlighted the remarkable growth of the crypto firm in a few years’ time and assured it continues to hire.
On Thursday, Chief Strategy Officer Patrick Hillmann confirmed on Twitter that he is exiting Binance “on good terms,” two years after joining the company. Quoting a knowledgeable source, Bloomberg reported that Senior Vice President for Compliance, Steven Christie, and Hon Ng, Binance’s general counsel, have left as well.
Binance Australia has seen departures amid increased regulatory pressure from investigations and lawsuits in the US, France, Belgium, and other jurisdictions. Australian authorities have also searched Binance Australia locations.
(With inputs from Shikha Singh)
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