Former SEC Member Norman Reed is Named the New Interim CEO of Binance.US

Crypto News – Former SEC employee Norman Reed will serve as the interim CEO of Binance US, the cryptocurrency exchange’s US subsidiary.

Former SEC Member Norman Reed is Named the New Interim CEO of Binance.US

The appointment comes after Brian Shroder, the CEO of Binance US, left his position during a layoff that affected 33% of the company’s workers. Changpeng Zhao, the founder and CEO of Binance, stated in a tweet that he thinks Reed is the “right person to lead Binance US” in the present cryptocurrency sector, which has a “rapidly evolving and increasingly hostile regulatory environment.”

Reed has been with Binance US Since 2021

Before joining the SEC, Reed held positions with the Federal Reserve Bank of New York and the blockchain company Ripple, which is the creator of the XRP token. In December 2021, Reed started working for Binance US as a general counsel.

Under his leadership, Binance US raised capital, improved its product and service offerings, solidified internal processes, and gained significant market share, all of which helped to build a more resilient company for the benefit of customers,

Zhao