{"id":32601,"date":"2023-07-07T08:52:33","date_gmt":"2023-07-07T12:52:33","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/crypto-exchange-binance-hit-by-executive-exodus\/"},"modified":"2023-07-07T08:52:34","modified_gmt":"2023-07-07T12:52:34","slug":"crypto-exchange-binance-hit-by-executive-exodus","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=32601","title":{"rendered":"Crypto exchange Binance hit by executive exodus"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: Binance logo is seen in this illustration taken March 31, 2023. REUTERS\/Dado Ruvic\/File Photo<\/span>
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By Tom Wilson and Jaiveer Shekhawat<\/p>\n

(Reuters) -A string of executives have quit Binance, according to their tweets and media reports, the latest blow for the world’s biggest crypto exchange as its battles a slate of legal and regulatory headaches.<\/p>\n

Chief Strategy Officer Patrick Hillmann said in a tweet on Thursday that he was leaving the exchange, citing personal reasons. Steven Christie, a compliance executive who joined Binance in May 2022, also tweeted on Friday that he was leaving, saying he was “tired” and that he needed to “lose some weight.” <\/p>\n

General Counsel Hon Ng has also quit, Fortune and Bloomberg News reported on Thursday, with both outlets citing a person familiar with his departure. Yibo Ling, Binance’s U.S.-based chief business officer, has also left, Bloomberg reported. <\/p>\n

Binance did not immediately respond to a request for comment on the resignations. Neither Ng nor Ling immediately replied to LinkedIn messages form Reuters.<\/p>\n

Last month, U.S. regulators sued the crypto exchange and its CEO Changpeng Zhao for allegedly operating a “web of deception.” Binance has said it would defend itself “vigorously.” <\/p>\n

The exchange is under investigation by the U.S. Justice Department over possible money-laundering and sanctions violations, Reuters has reported. <\/p>\n

Fortune, citing a person at Binance familiar with the situation, reported that the executives quit over Zhao’s response to the Justice Departure probe. Reuters could not independently confirm this.<\/p>\n

Zhao, a billionaire who is one of crypto’s most powerful figures, said in a tweet on Friday: “Yes, there is turnover (at every company). But the reasons dreamed up by the “news” are completely wrong.” <\/p>\n

Hillmann, who joined Binance in 2021 as its top communications executive, became its chief strategy officer in October last year. After Zhao, he was Binance’s most outspoken advocates on social media. <\/p>\n

“I’ve taken this company through a lifetime of industry crises and regulatory challenges,” Hillmann tweeted, citing a string of corporate failures to hit crypto last year. “Despite all of these challenges, the company has continued to grow and thrive.”<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: Binance logo is seen in this illustration taken March 31, 2023. REUTERS\/Dado Ruvic\/File Photo By Tom Wilson and Jaiveer Shekhawat (Reuters) -A string of executives have quit Binance, according to their tweets and media reports, the latest blow for the world’s biggest crypto exchange as its battles a slate of legal […]<\/p>\n","protected":false},"author":1,"featured_media":2931,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-32601","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCrypto exchange Binance hit by executive exodus | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. FILE PHOTO: Binance logo is seen in this illustration taken March 31, 2023. 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