BTC-Newswire

SEC filings reveal testimony of former Binance.US CEOs

Press Releases Crypto News CryptoSlate SEC filings reveal testimony of former Binance.US CEOs

The SEC’s complaint against Binance.US includes excerpts of testimony given to the regulator by two of the firm’s former CEOs, one of whom has been radio silent since stepping down in 2021.

The filings contain portions of the testimony given by Catherine Coley and Brian Brooks about their experience in leading Binance.US and the main hurdles they faced in the job.

The testimony also touches on the influence Binance Holdings — which runs the international Binance.com platform — had on Binance.US and its operations, as well as the sharing of technology and resources between the two.

The first CEO of Binance.US

Catherine Coley was the first CEO of Binance.US and served in the role between 2019 and 2021 — overseeing the company’s initial launch in the U.S.

Her sudden departure and subsequent silence caused many to speculate about what had transpired during her time as CEO and why she left. The excerpts of her testimony in the SEC filings shed some light on her experience.

Coley told the SEC that Binance.US relied heavily on Binance.com’s resources and staff for its launch, with the platform’s code written entirely by engineers based in Shanghai.

She said this eventually became a “major pain point” in making Binance.US independent from its international counterpart as a lot of the codebase was written in Chinese. She added that bringing on U.S. and Western engineers to work on the code was challenging despite bilingual proficiency.

As such, she said she focused on areas that could quickly become independent, such as customer support.

The excerpt did not include the reason behind her departure or her present whereabouts.

Matching engine

Coley also confirmed that Binance.US used the same matching engine as Binance.com during her time there and that she does not recall signing Service Level Agreements for Binance.US until January 2020, months after it began opening acc

Go to Source to See Full Article
Author: Assad Jafri

Did you like this?
Tip BTC Newswire with Cryptocurrency