Crypto News – In an effort to allay worries about executive departures, Binance CEO Chang Peng Zhao claimed that these executives were taking on more important positions outside of Binance and that rumors of their leaving were simply market FUD.
Why Did 10 Binance Executives Depart in 2023?
Ten important executives from various departments have left Binance, the largest cryptocurrency exchange in the world by trading volume, in the first nine months of 2023. Although executive exits from a firm are common due to their predetermined contractual duties, the number of executives leaving Binance in the midst of escalating regulatory issues has become a hot topic in the cryptocurrency world.
Who were the Most Recent Departures from the Company?
Helen Hai, the executive vice president of the cryptocurrency exchange, is the most recent to be added to the list. On September 6, she made public her departure from her position. Vladimir Smerkis, general manager for Russia and the CIS, and Gleb Kostarev, vice president for Eastern Europe, Turkey, the Commonwealth of Independent States, Australia, and New Zealand, both made their resignation announcements on the same day. The names leaving the company in this process are as follows:
- Helen Hai – September 6, 2023
- Vladimir Smerkis – September 6, 2023
- Gleb Kostarev – September 6, 2023
- Mayur Kamat – September 4
- Leon Foong – August 31, 2023
- Steven Christie – July 7, 2023
- Patrick Hillmann – July 6, 2023
- Han Ng – July 6, 2023
- Steve Milton – July 6, 2023
- Matthew Price – July 6, 2023
After Binance’s answer to the Department of Justice probe, four top executives are said to have all quit on the same day. These senior executives, according to a Fortune story, were not pleased with the cryptocurrency exchange’s answer. All of these stories, according to Binance CEO Chang Peng Zhao, were false and unsubstantiated.
According to Zhao, Those Who depart Will Become Better Positioned
On September 6, Zhao used X to respond to the escalating rumor of the departure of important executives once more. Zhao noted that many Binance employees are taking on larger responsibilities, including some outside of Binance while publishing a Cointelegraph article about Kostarev’s departure.
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