#Binance ceo stepping down series
In addition to this, it’s noteworthy to mention that the exchange has seen a series of high-profile departures this year, with the likes of Mayur Kamat (Global Head of Product), Hon Ng (General Counsel), Patrick Hillmann (Chief Strategy Officer), and Steven Christie (SVP for Compliance) leaving the company.īrian Shroder, prior to his recent resignation, had assumed the CEO position for Binance US in September 2021, succeeding the then-CEO Brian Brooks and Catherine Coley, who had held the role before Brooks. While it might not match the transactional volume of its main company, it paves the way for American citizens to engage with the Binance brand, bypassing the legal constraints they would otherwise face. The company is also witnessing a substantial downsizing, terminating over 100 positions, which amounts to nearly a third of its total workforce.īinance US, having been established in 2019, is the US counterpart of the global exchange’s trading framework. Binance US, however, isn’t just dealing with this abrupt change in leadership.
Taking up the mantle from Shroder is Binance US Chief Legal Officer, Norman Reed. This comes at a time when Binance CEO Changpeng ‘CZ’ Zhao is putting in rigorous efforts to counteract the negative press and FUD surrounding his cryptocurrency stronghold. Please contact us for subscription options.Binance US President and CEO Brian Shroder has taken a surprising exit from his role, as per recent insights from a Bloomberg report. "Especially for those close to the FTX ecosystem, they will be negatively affected."Īnadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form.
"With FTX going down, we will see cascading effects," Zhao told Financial Times. The crypto market, however, was once again in negative territory after FTX Group filed for Chapter 11 bankruptcy in the US and its CEO Sam Bankman-Fried resigned from his role.īinance co-founder and CEO Changpeng Zhao on Friday warned of a crisis in the crypto market. Binance refused the buyout deal on Wednesday.Ĭryptocurrencies were in freefall through Wednesday, but they partially recovered on Thursday when a slowdown in inflation gave hope to investors that the Fed could take its foot off the throttle in increasing interest rates in the coming months The major sell-off started on Tuesday when FTX asked for help from the rival Binance, because of liquidity issues. Some altcoins saw their price plummet between 15% to 20% in the past 24 hours.įTT, FTX's token, saw its price dive 89% in the past week, while it was down 31% for the day. The total value of the cryptocurrency market was down 6% to $844 billion during that time, according to data from the digital asset price-tracking website CoinMarketCap. EDT for a 6.1% daily loss.Įthereum, the world’s biggest altcoin, was trading around $1,246 at the time for a 6.3% daily decline.
The price of Bitcoin, the world’s largest crypto by market size, was trading around $16,760 at 11.45 a.m. ANKARA (AA) - Bitcoin saw its price lose over 6% on Friday the crypto market has failed to rebound from a major sell-off after the troubled cryptocurrency exchange platform FTX filed for bankruptcy.
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