Several senior Binance executives began to resign over CZ’s response to the US Department of Justice. The decision to leave the mass comes in the midst of a difficult period for Binance.
Binance shakes up again: Top executives start to resign
According to the hot developments, many senior Binance executives started to leave the company after the regulatory developments in the USA. General counsel Han Ng, chief strategy officer Patrick Hillmann, and Senior Vice President of compliance Steven Christie are among those who have decided to leave the firm. It was also revealed that Matthew Price, head of global investigations and intelligence, recently left the stock market.
In particular, Patrick Hillmann, Binance’s chief strategy officer, sheds light on the behind the scenes with his comments on Twitter. On July 6, he tweeted, “I’m leaving Binance. But I do it on good terms. I’ve been here for two years. Now it’s time for me to move on to the next challenge,” he wrote.
Hillmann’s remarks follow a report suggesting that Binance CEO CZ left the exchange in response to the US Department of Justice (DoJ) investigation, citing an internal source.
General counsel Han Ng and senior vice president of compliance Steven Christie have reportedly left the stock market.
CZ calls for Fud again
In response to the reports, Zhao claimed that the reasons for their manager’s departure were “fantasy” and “completely false”. He tweeted that he had “FUD” in his latest developments, as such events often sounded.
CZ’s tweet comes after recent days of senior executive resignations. CZ began his tweet acknowledging the existence of troubles. He emphasized that Binance has experienced significant growth and transformation in its short existence. With a workforce growing from 30 to 8,000 employees in just six years, Binance has become the world’s largest crypto exchange within five months of its founding. CZ proudly stated that Binance has been fortunate enough to attract some of the most talented professionals in the industry along this journey.
What are senior Binance executives reacting to?
According to Fortune’s sources, these individuals are CZ’s US Department of Justice. (DOJ) chose to leave the company because of his concerns about his handling of an ongoing investigation. The investigation, which has been reported to have lasted for over a year, alleges Binance has committed a variety of crimes, including attempts to mislead US regulators, involvement in money laundering activities and sanctions violations.
But CZ argues that these claims are completely false. It should be noted that as of now, no official charges have been filed against Binance by any regulatory authority. But the scrutiny surrounding the company has undoubtedly created a challenging environment, leading to the dismissal of executives. cryptocoin.com We have included the details of the SEC case in this article.
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