Former SEC enforcement chief John Reed Stark on Thursday again attacked crypto exchange Binance, questioning the exodus of senior executives. He claims that senior executives exiting Binance give opportunity to law enforcement and others to seek internal detail on the crypto exchange as it’s already under investigation by authorities.
Former SEC official John Reed Stark took to X on September 7 to comment on the ongoing exodus of executives from Binance. He said several senior executives left the crypto exchange and some employees were laid off this year despite being a young company.
“For a relatively young company, Binance appears to have an unusually lengthy laundry list of departed senior employees, who have now unwittingly and instantaneously transformed themselves into ideal fodder for secret government cooperation deals,” added Stark.
He believes these employees will cooperate in investigations to reveal secret details about Binance. Typically, law enforcement taps a company’s former senior employees as sources for informants, turncoats, and whistleblowers.
Senior executives have inside information about a target company and provide prosecutors with fraudulent conduct and complicit parties. Stark believes former Binance employees are either “disgruntled” or “terrified” amid ongoing lawsuits and investigations.
If not the SEC or DOJ, news media have reached out to former Binance executives. However, they declined to comment or rejected that they felt “disgruntled” or “terrified”. Moreover, Binance has clarified that they periodically review employees to make necessary changes.
Binance Asia-Pacific’s head Leon Foong, global head of product Mayur Kamat, Eastern Europe vice president Gleb Kostarev, and Commonwealth of Independent States (CIS) director Vladimir Smerkis announced their resignation in just 10 days.
Also Read:
U.S. President Donald Trump has reportedly pardoned Binance founder Changpeng "CZ" Zhao for his conviction…
Bitcoin critic and renowned economist Peter Schiff has challenged Binance co-founder Changpeng "CZ" Zhao to…
Crypto exchange Robinhood has listed Hyperliquid's native token HYPE for its U.S. clients. This comes…
The U.S. Bureau of Labor Statistics (BLS) will release the Consumer Price Index (CPI) data…
The “Trump insider whale” has begun closing its Bitcoin short positions just as the U.S.…
Binance founder Changpeng "CZ" Zhao debunked economist Peter Schiff's views on tokenizing gold. CZ claimed…