Binance Chief Executive Officer Changpeng “CZ” Zhao has commented on the recent exodus of top executives from the exchange’s US subsidiary in the last week. 

On September 13, the CEO of Binance.US, Brian Shroder, resigned from the company amidst a general layoff that saw the exit of one-third of the company’s workforce.

In addition, two other top executives of the US-based exchange, Krishna Juvvadi, the Head of Legal, and Sidney Majalya, Chief Risk Officer, also stepped down from their positions on September 14. 

Following the departure of Shroder and these other executives, there has been much speculation on the future of Binance.US, which is currently stuck in a legal battle with the US Securities and Exchange (SEC) and the Commodity Futures Trading Commission (CFTC).

Therefore, Binance’s global head, Changpeng “CZ” Zhao, has released a statement addressing the concerns of customers regarding these recent developments. 

US Executive On Deserved Break, Ignore FUD – CZ

According to CZ’s X post on September 15, Binance users should pay little attention to the current FUD surrounding the exchange.

CZ comments on Shroder’s departure, describing it as a “deserved break” for the former executive who had achieved all set objectives for Binance.US since assuming the company’s CEO role two years ago. 

Bitcoinist

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