Senior executives reportedly resigned at cryptocurrency exchange Binance facing lawsuits from regulators
General Counsel Han Ng, Chief Strategy Officer Patrick Hillman, and Senior Vice-President of Compliance at
Binance senior execs quit over CEO's response to investigations: Fortune |
https://www.theblock.co/post/238236/binance-senior-execs-quit-over-ceos-response-to-investigations-fortune
Breaking: Binance Crisis Deepens As Senior Executives Resign Over CZ's Response To DOJ Investigation | Bitcoinist.com
Binance Crisis Manager Patrick Hillmann, US Executives Leave Crypto Exchange - Bloomberg
https://www.bloomberg.com/news/articles/2023-07-06/binance-executive-patrick-hillmann-us-employees-leave-as-crisis-deepens
In June 2023, Binance was sued by the U.S. Securities and Exchange Commission (SEC) on suspicion of ``selling virtual currencies in the United States despite being unregistered''.
Binance, a virtual currency exchange, is sued by the Securities and Exchange Commission, suspicion of ``selling unregistered virtual currency''-GIGAZINE
by Web Summit
In March 2023, the Commodity Futures Trading Commission (CFTC) also filed a lawsuit against Binance and Mr. Zhao on suspicion of continuing illegal trading, and an investigation is being conducted by the US Department of Justice (DOJ). was reported.
Binance and Changpong Zhao CEO are indicted by US regulators for alleged illegal trading - GIGAZINE
by Web Summit
Mr. Ng, Mr. Hillman, Mr. Christie and others told Mr. Jao that he will resign from Binance in July 2023, as the lawsuits and investigations against Binance and Mr. Jao continue. According to foreign media Fortune, the reason for resignation is speculated to be 'related to Mr. Zhao's investigation response.' On the other hand, Mr. Hillman reported on his Twitter that he retired from Binance amicably. ``It's been two years since I joined Binance, and it's time to move on,'' he said. 'With the birth of our second child approaching, it's the perfect time to step back,' she said.
Apologies for any typos, but I was not expecting to be tweeting about this today.
—Patrick Hillmann (@PRHillmann) July 6, 2023
It's true that I am leaving @Binance , but I'm doing so on good terms. I continue to respect and support @cz_binance and am grateful for having had the incredible opportunity to work under his…
In response to these reports, Mr. Zhao admitted that several senior executives had resigned, but said, ``The reported reasons for resignation are completely wrong.'' denied the relationship. Mr. Zhao said, ``The market and global environment surrounding virtual currency will change, and as the organization grows, the personal situation will also change.'' explains. “We will continue to grow steadily and continue to hire,” he added.
4. More FUD about some departures. Yes, there is turnover (at every company). But the reasons dreamed up by the “news” are completely wrong.
— CZ ???? Binance (@cz_binance) July 6, 2023
As an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world's largest crypto exchange in less than 5 months…
Since June 2023, when the lawsuit against Binance was reported, the market price of the virtual currency 'BNB', which is used as the key currency at Binance, has been on a downward trend.
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in Note, Posted by log1r_ut