Two more Binance.US executives leave the company as mass exodus continues Two more Binance.US executives leave the company as mass exodus continues
The company's head of legal and chief risk officer have resigned, the latest in a wave of resignations from Binance and its affiliated firms.
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Updated: Sep. 14, 2023 at 9:58 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Two more Binance.US executives have left the company amidst other departures and layoffs, the Wall Street Journal reported on Sept. 14.
The report indicates that Binance.US’ Head of Legal, Krishna Juvvadi, and its chief risk officer, Sidney Majalya, are leaving the firm.
Binance.US hired Juvvadi, who previously served as global head of operations compliance at Uber, in May 2022. The company hired Majalya, who held past compliance roles at firms including Oracle, Intel, and Uber, in December 2021.
Other recent reports indicate that Binance.US CEO Brian Shroder has also left his position and that the company has laid off about a third of its staff.
Binance.US is still operational despite its apparent staffing issues. However, some services have been reduced: broader regulatory difficulties have led the company to pause U.S. dollar support and offer a crypto-only exchange since August.
Binance has downplayed past departures
The latest departures follow other resignations at Binance.US’ parent company, Binance. At least ten global Binance executives have left the firm over the course of 2023, including General Counsel Han Ng, Chief Strategy Officer Patrick Hillmann, and SVP for Compliance Steven Christie. Other departing executives include Steve Milton, Matthew Price, Leon Foong, Mayur Kamat, Vladimir Smerkis, Gleb Kostarev, and Helen Hai.
Those ten departures all took place after the U.S. Securities and Exchange Commission (SEC) filed charges against Binance and Binance.US in June. Some or all of the vacated positions were later filled by other individuals.
Binance has rarely announced any of those staff departures. Rather, third-party news outlets and executives themselves have typically announced the news.
Binance and its CEO, Chanpgeng Zhao, have attempted to refute speculation around reasons for staff departures — particularly any attempts to link departures to regulatory issues or internal strife.
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Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada's West Coast.
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Binance.US
Binance.US will provide secure and reliable cryptocurrency trading to users in the United States.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.