Binance US CEO leaves as company lays off third of its staff
Binance US, the American subsidiary of the crypto exchange giant, has laid off 100 employees, or a third of its staff , following the departure of its CEO. Bloomberg reports that the former CEO, Brian Shroder, who joined Binance in September 2021, will be temporarily replaced by Norman Reed, the Chief Legal Officer. Binance said that the SEC’s actions against the crypto industry have affected its business and threatened U.S.-based jobs and innovation. As a result, the company has laid off a third of its staff . Shroder’s exit is the latest in a series of resignations by high-profile executives from Binance, facing regulatory challenges in the U.S. and other countries. You might also like: Binance Russia execs leave amid ongoing rumors of market exit Binance US regulatory challenges Binance, one of the world’s largest cryptocurrency exchanges, is under investigation by the US Securities and Exchange Commission (SEC) for possible violations of securities laws. The SEC has...