Binance, one of the largest cryptocurrency exchanges, announced that it had hired Noah Perlman, Gemini’s former C-suite executive, as its Chief Compliance Officer.
Former Gemini Executive Becomes New Binance CCO
The exchange is obviously strengthening its compliance team with major recruiting to shield itself from escalating regulatory scrutiny. Bloomberg broke the news of this hire on Monday, and an exchange spokesperson confirmed it on Tuesday.
The biggest factor in Perlman‘s selection for this job was his career history. Perlman was Chief Compliance and Operations Officer at Gemini from 2019 to the present. As such, he has tremendous knowledge and experience in the industry.
Expanding the Team
It’s no secret that off-chain regulators are scrutinizing loopholes in the crypto sector. Binance‘s involvement in the branding of BUSD, the stablecoin minted by Paxos, has drawn the attention of regulators to the exchange. The exchange has apparently decided to expand its compliance team as a remedy to clear up these misunderstandings. Even Binance CEO CZ’s tweet from September affirmed this.
In short, the exchange has recently stepped up the pace of hiring and expanding its team to strengthen its position. The biggest example is that while many firms were laying off employees in the middle of the crypto winter, the exchange was running recruitment campaigns to reach its 8K target.
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