Binance, the largest cryptocurrency exchange in the world by trading volume, has consistently been a top focus of regulatory investigation in the United States.
The recent lawsuit filed by the US Securities and Exchange Commission (SEC) drew criticism for giving US-based cryptocurrency exchange Coinbase special treatment.
In this regard, it was asserted that numerous top executives may have abruptly left the US branch of the exchange as a result of the aggressive enforcement proceedings.
Some of them have said they aren’t leaving for any of these reasons, in any case. Han Ng, the general counsel, Patrick Hillmann, the chief strategy officer and Steven Christie, the senior vice president for compliance, are among those leaving the organization.
Christie clarified that Hillmann wants to take a break and spend time with his family even though Hillmann said they are parting on friendly terms. Meanwhile, rumors are circulating that Binance has found Hillmann’s replacement.
Binance Chief Strategy Officer
Fox Business reporter Eleanor Terrett claims that the cryptocurrency exchange may have chosen a replacement for outgoing Chief Strategy Officer Patrick Hillmann.
The company’s current vice president of communications, Brad Jaffe, will take over for Hillmann. According to present indications, the cryptocurrency exchange is still searching for compliance senior vice president Steve Christie.
Earlier, Changpeng Zhao, the CEO of Binance, was quoted by CoinGape about the continuous FUD surrounding abrupt exits. He referred to the quick changes as a typical “turnover” and connected to the most recent SEC action.
But one important lesson from the recent governmental assault on the US crypto business was how resiliently the price of Bitcoin responded. Even while the news of the resignation caused a decline in the price of crypto assets, it was only a slight decline.
