Binance ceo stepping down series#

In March 2023, the US Commodity Futures and Trading Commission also filed a lawsuit against Binance which it called a “willful evasion.” Earlier this year, the US Securities and Exchange Commission filed a lawsuit against Binance and the exchange’s founder Changpeng “CZ” Zhao for illegal trading activities, selling unregistered securities, mishandling customer funds, and violating commodities laws.

Binance ceo stepping down series#

In recent months, Binance.US has been facing a series of lawsuits. However, Hillman stated that he was leaving the company on good terms, while Christie stated he was leaving the company for personal reasons.īNB price trading sideways at $211 | Source: BNBUSD on Lawsuit Challenges Facing The Crypto Firm

In July, the crypto exchange’s Chief Strategy Officer Patrick Hillman, and compliance officer Steven Christie also announced their departure from the firm on X. 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.Īccording to sources, the crypto exchange’s Chief Legal Officer Norman Reed replaced Brain Shroder on an interim basis.īrain Shroder was head of business development, and global partnership at Ant Group and head of strategy and business development in the Asia Pacific for Uber before joining the crypto giant Binance in September 2021. 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. However, the crypto exchange has come forward with its reasons for reducing its workforce saying: It is believed that these changes might be linked to the current legal challenges and regulatory pressures that have affected the crypto industry. Thank you, it has been a privilege.Related Reading: Ripple President Breaks Silence On Why They’re Not Backing Down From SEC Lawsuit He added, “To my team, my colleagues and the community. None of this would have been possible without the support of the crypto community.” “I am immensely proud of my time at Binance in which we grew to over 1 million users in the last two years. “I am looking forward to watching the growth of the Web3 industry and of Binance and will continue to support the Binance business as a Director of Binance Australia Derivatives,” he said. In the coming weeks, Travers said he will be working closely with Rose to ensure a smooth handover of operations in the region and introduce him to their network of partners and stakeholders that they work with across the community as part of Binance’s commitment to growing the Web3 industry.

Rose launched Binance in New Zealand in late 2022 and has been instrumental in the growth of the company in the region.Ĭommenting on his departure, Travers said, “After nearly two years at Binance Australia, I am stepping back from my position as CEO and handing over the reins to Ben Rose, who has been doing an outstanding job managing Binance New Zealand and the Pacific Islands.” With this change, Binance has welcomed Ben Rose to the newly created role of Australia and New Zealand general manager. We will not share your details with third parties. I have read and accept the privacy policy and terms and conditions and by submitting my email address I agree to receive the Digital Nation newsletter and receive special offers on behalf of Digital Nation, nextmedia and its valued partners.