In the latest series of high-profile departures at Binance, Stéphanie Cabossioras, Managing Director of the crypto exchange’s French unit, has resigned.

This move follows a tumultuous year for one of the world’s leading cryptocurrency exchanges, now grappling with rigorous regulatory challenges on a global scale.

Another Binance Executive Steps Down

Stéphanie Cabossioras’ journey with Binance began last year when she joined as the Head of Legal. Later, she ascended to the General Manager role for the French division. Her arrival at Binance coincided with the company’s strategic decision to establish a European hub in Paris.

David Prinçay, President of Binance France, took to social media to express gratitude to Cabossioras for her contributions.

“We thank Stéphanie for her strong contribution to Binance France and wish her the best for her next challenge,” Prinçay said.

Cabossioras marks the fifth major executive departure from Binance. An extensive global list includes the Head of Product, Chief Strategy Officer, General Counsel, and the Asia-Pacific Leader. These exits are set against the backdrop of numerous lawsuits against Binance.

For instance, in France, authorities launched an investigation into the alleged illicit provision of digital-asset services and accusations of money laundering.

The crypto behemoth has since encountered regulatory hindrances in several European countries. These have led to the suspension of certain services and the withdrawal of regulatory applications in nations like the Netherlands, Belgium, and Germany, to name a few.

Read more: 7 Best Binance Alternatives in 2023

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Author: Bary Rahma

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