The head of legal and the chief risk officer have reportedly departed from cryptocurrency exchange Binance.US, marking two more executive exits.
This comes after Binance.US CEO Brian Shroder’s recent departure, along with the company’s decision to cut one-third of its workforce.
Binance.US Executives’ Departures Heighten Speculation
On September 14, The Wall Street Journal reported, citing familiar sources, that Kirshna Juvvadi, who held the position of head of legal, and Sidney Majalya, the chief risk officer, are both departing from Binance.US.
However, not too long ago, both these departments underwent layoffs. On June 16, reports disclosed that several employees in Binance.US’s legal, risk, and compliance departments were laid off. Bloomberg reported that this action was taken as part of “preparing for a multi-year and highly expensive litigation process.”
The ongoing departures of senior staff coincide with the United States Securities and Exchange Commission’s (SEC) ongoing legal battles against Binance.US.
Bloomberg analyst James Seyffart voiced his concerns in a post on X (formerly Twitter) shortly following the announcement:
“Well… this cannot be a good sign for whatever is going on with Binance.”
Meanwhile, another user stated that Binance.US is not “nearly as big as people think it is.”
In a recent post, he pointed out that the 24-hour trading volume of Binance.US is significantly lower than that of its parent company, Binance.
Go to Source to See Full Article
Author: Ciaran LyonsDid you like this?
Tip BTC Newswire with CryptocurrencyDonate Bitcoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some bitcoin:Donate Bitcoin Cash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send bitcoin:Donate Ethereum to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Ether:Donate Litecoin to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Litecoin:Donate Monero to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some Monero:Donate ZCash to BTC Newswire
Scan the QR code or copy the address below into your wallet to send some ZCash:
