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Tuesday, April 23, 2024

Top Executives Leaving Binance – Because of Changpeng Zhao?

Some key figures at Binance take their hats off. Supposedly because of investigations by the US Department of Justice – and CZ’s reaction to it.

  • According to a Forbes report, top executives are turning their backs on the world’s largest crypto exchange.
  • The reason: Changpeng Zhao’s reactions to an ongoing investigation against the company by the US Department of Justice .
  • Forbes claims to have learned this from a person “who is familiar with the matter”.
  • Among the executives are Patrick Hillmann, Chief Strategy Officer and Steven Christie, Senior Vice President of Compliance.
  • Binance cites other reasons for the terminations. Hillmann tweeted that he was leaving the company on good terms.
  • US regulators CFTC and SEC sued Binance earlier this year . Several countries in Europe have also refused licenses and initiated investigations.
  • Since 2018, the US Department of Justice is said to be personally investigating Binance and CZ. Rumors of indictment increased in December 2022. The founder could face a prison sentence .

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