The now ex-CEO cited “differences in strategic direction” between him and BinanceUS
The last two months have been a long time for Binance. After receiving warnings from regulators in France, Japan, the Cayman Islands and recently Malaysia, UK banks Barclays, Santander and Natwest have all started blocking payments to the exchange, while euro bank deposits via SEPA have also been suspended.
Regulatory pressure has led to recent changes in Binance’s product and service offerings. Last month, the exchange announced that it “ reduced support for equity tokens “, which Germany’s financial watchdog had previously suggested as likely a breach of security rules. Last Friday, the exchange also announced that it was restricting its derivatives offering in Hong Kong.
But Binance does not seem to be drawn from this. On Friday night, BinanceUS CEO Brian Brooks announced his resignation.
« Greetings # crypto community, » Brooks tweeted. « I inform you that I have resigned as CEO of @ BinanceUS. Despite the differences on the strategic direction, I wish my former colleagues every success. Exciting new things to come ! »
Brooks had only been in office for three months, having replaced Catherine Coley on May 1. Prior to that, Brooks had been chief legal officer at Coinbase and an acting head of the Office of the Comptroller of the Currency under the Trump administration.
Brooks ‘priorities as CEO of BinanceUS included helping the exchange compete with Coinbase and meeting regulators’ concerns.
« I would not have taken this position if I did not have a strong board commitment to lead a strong compliance program “, he said at the time. It is unclear whether current regulatory issues were a factor in Brooks ‘ departure.
Shortly after Brooks ‘ tweet, BinanceUS shared a statement from Binance CEO and BinanceUS Chairman Changpeng Zhou.
« I remain confident in the activities of Binance.US and in its commitment to serve its customers and innovate “, he said. « As one of the largest cryptocurrency exchanges in the United States, Binance.US is ready to continue its growth and give power to the future of finance. This transition will have no impact on the customers of Binance.US, because the company will continue to provide the best products and services in its class. »
