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Crypto Market News: Top crypto exchange Binance had appointed Eleanor Hughes as its new general counsel, after the recent exit of Han Ng from the role. It may be recalled that Ng and other Binance executives, chief strategy officer Patrick Hillmann and senior vice president for compliance Steven Christie have resigned for their respective roles last week, fueling speculation of an internal crisis brewing within the crypto exchange.
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Amid speculation of turmoil, Christie penned down his remarks explaining the personal reasons that drove him to take a break from his job. More importantly, the former SVP had good words to say about the company’s compliance program. The world’s top crypto exchange is fighting several legal battles including from the United States Commodities Futures Trading Commission (CFTC) as well as the US Securities and Exchange Commission (SEC).
Eleanor Hughes, The New Binance General Counsel
Hughes, who has over 15 years of legal experience, has been part of Binance’s legal team since November 2021. In her new role, Hughes is set to lead a team of 85 lawyers and work closely with the company’s Compliance team, the exchange said in a statement. Binance CEO CZ stated on the ocassion that Hughes “has grown to be a trusted advisor to himself and the team on legal matters.”
“With Eleanor at the helm, I am confident that our industry-leading legal team will continue to flourish in its mission to always protect users and manage risks on our platform.”
The company stated that the new general counsel was key to gaining virtual asset service provider licenses and registrations, around which crypto exchanges have been lately been subject to litigation.
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