Two senior executives from the American platform of leading cryptocurrency exchange Binance, Binance.US, are reportedly leaving the firm shortly after its now ex-CEO Brian Shroeder departed.
Krishna Juvvadi, the company’s legal head, and Chief Risk Officer Sidney Majalya were the latest to tender their resignations. Their departures also come shortly after the firm reduced its workforce by approximately a third, translating to a loss of 100 job positions.
Other high-ranking officials that have left Binance include Steven Christie, its SVP for compliance, Hon Ng, general counsel, Patrick Hillmann, chief strategy officer, and Mayur Kamat, global head of product.
Executive departures at Binance and Binance.US started earlier this year, after both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) took legal actions against Binance, its US subsidiary Binance.US, and co-founder Changpeng “CZ” Zhao.
The allegations revolved around operating an unauthorized exchange, dealing in unregistered securities, violating commodities regulations, and potential mishandling of customer funds.
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- Source: https://www.cryptocompare.com/email-updates/daily/2023/sep/15/
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