Binance's Brian Shroder will be replaced by general counsel Norman Reed, who joined the company in December 2021, on an interim basis.
Shroder will be replaced by general counsel Norman Reed, who
joined the company in December 2021, on an interim basis.
The actions we are taking today provide Binance.US with more than seven years of financial runway and
enable us to continue to serve our customers while we operate as a crypto-only
exchange," a Binance US spokesperson said.
Binance
US did not give a reason for Shroder's departure.
The US Securities and Exchange Commission (SEC) in June filed a
civil complaint against the world's largest crypto exchange, Binance, and its
founder Changpeng Zhao, accusing them of creating Binance.US as
part of a "web of deception" to evade securities laws aimed at
protecting US investors.
Binance and Binance.US have
maintained that they operate separately.
Binance has also seen a number of executive exits. Its
global head of product, Mayur Kamat, resigned early this month and its chief
strategy officer, Patrick Hillmann, left in July.
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Credit: ZEE NEWS
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