Binance’s US subsidiary announced on Thursday that it has hired Intel’s senior Compliance Officer as the crypto exchange’s Chief Risk Officer.
Sidney Majalya, a former federal antitrust attorney who heads the compliance offices of Oracle and Uber, will join Binance.US in January, according to a tweet. According to the information on LinkedIn, he has been serving as the vice president of legal processes and compliance at Intel, the world’s leading chip manufacturer, since August 2019.
He will report directly to Binance.US CEO Brian Schroder from October, according to a blog post.
Schroder appoints Majalya, Binance.US CEO’s first director of the “risk” division; This could be a significant development for both Binance and the cryptocurrency ecosystem as US lawmakers continue to put pressure on the nascent crypto industry.
Majalya said in a statement:
“Binance.US is deeply committed to compliance and our priority is to build and grow a world-class compliance and risk organization that has earned the trust of our customers, investors and regulators.”
said.