Binance US CEO Suddenly Steps Down, Cites ‘Differences’ With Colleagues

Brian Brooks is resigning as chief executive officer of crypto exchange Binance.US just three months after he was appointed to the position.

Brooks unveils to his 57,900 followers the reason behind his sudden departure. 

“Greetings crypto community. Letting you all know that I have resigned as CEO of ⁦⁦⁦BinanceUS. Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!”

In response, Binance CEO Changpeng Zhao praised Brooks’ work as chief executive of Binance’s US arm, asserting that the transition will not affect the customers of the crypto giant.

“Brian’s work for http://Binance.US has been invaluable and we hope he will continue to be an integral part of the crypto industry’s growth, advocating for regulations that move our industry forward. We wish him the very best in his future endeavors.”

Brooks is stepping down as Binance faces regulatory hurdles.

Hong Kong, Britain, Japan and Italy are cracking down on Binance amid concerns about the exchange’s regulatory status.

Brooks was the acting head of the Office of the Comptroller of the Currency (OCC) before he assumed the executive role at Binance on May 7th. During Brooks’ term with the OCC, the federal banking regulator released guidance clarifying that banks can offer cryptocurrency custody services and use stablecoins for conducting payment activities.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

ADVERTISEMENT

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/NextMarsMedia

Source: https://dailyhodl.com/2021/08/08/binance-us-ceo-suddenly-steps-down-cites-differences-with-colleagues/