Stéphanie Cabossioras, Binance’s director in France, is at least the tenth executive to leave the cryptocurrency exchange this year.
In an October 19 post on X (formerly known as Twitter), David Princay, a resident of Binance France, confirmed Cabossioras’ departure and thanked her for her contributions to the exchange.
La DG adjointe de Binance France 🇫🇷 @StepCabossioras quitte l’entreprise et sort du directoire du géant.
Dans cette période délicate entre le bear market et le cadre réglementaire qui touche les activités de Binance, ça va faire du bruit et ce ne sera pas une agréable annonce.
— Hasheur (@PowerHasheur) October 18, 2023Prinçay wrote, “We thank Stéphanie for her strong contribution to Binance France and wish her the best for her next challenge,”
In April 2022, Cabossioras joined Binance as the chief of legal for the French branch of the cryptocurrency exchange. In November of the same year, he was promoted to executive director.
A Binance spokesperson informed reporters, that the company’s French operations continue to expand and that Cabossioras’ departure has “no impact on its operations.”
Before joining the cryptocurrency exchange, Cabossioras was the general counsel at Autorité des Marchés Financiers, the organization primarily responsible for financial regulation in the Canadian province of Quebec.
The France branch of Binance was subject to a local investigation in June, with the Paris Prosecutor’s Office citing “acts of aggravated money laundering” and a litany of other accusations as the investigation’s basis.
With her departure, Cabossioras joins the ranks of at least ten senior executives who have departed Binance this year alone. On July 6, three executives, including chief strategy officer Patrick Hilman, general counsel Han Ng, and Binance’s global vice president of marketing and communications Steve Milton, announced their departures.
The CEO of Binance, Changpeng “CZ” Zhao, commented on these departures on July 7, characterizing them as natural parts of his company’s evolution and dismissing reports about them as FUD, an acronym for “fear, uncertainty, and doubt.”
4. More FUD about some departures. Yes, there is turnover (at every company). But the reasons dreamed up by the “news” are completely wrong.
As an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world’s largest crypto exchange in less than 5 months…
— CZ 🔶 Binance (@cz_binance) July 6, 2023Following several high-profile lawsuits filed against it by U.S. regulators, Binance’s legal troubles have only gotten worse. The Commodities Futures Trading Commission filed a lawsuit against CZ, Binance, and its affiliates in March for several alleged trading violations.
In June, the U.S. Securities and Exchange Commission initiated its legal proceedings, prosecuting CZ, Binance, and its affiliates, among other allegations, for allegedly operating as an unregistered securities broker.
