NewsletterBinance Picks New Chief Strategy Officer After Patrick Hillmann Exit
Crypto Market News: The world’s leading crypto exchange by trading volume, Binance, has always been a top target of regulatory scrutiny in the United States. The recent lawsuit by the US Securities and Exchange Commission (SEC) attracted criticism over preferential treatment to US based crypto exchange Coinbase. In this context, it was argued that the intense enforcement actions may have led to several top executives suddenly leaving the US arm of the exchange. However, some of them have communicated that they were not leaving for any such reasons.
Also Read: Bitcoin Holdings Shift: Institutions Accumulate BTC as Exchange Balances Plummet
Among those leaving the company are Han Ng, the General Counsel; Patrick Hillmann, the Chief Strategy Officer; and Steven Christie, the senior vice president for Compliance. While Hillmann said he was leaving on good terms, Christie explained he wants to take a break and spend time with family. Meanwhile, it is being speculated that Binance has found a replacement for Hillmann.
Binance New Chief Strategy Officer
According to Fox Business journalist Eleanor Terrett, the crypto exchange might have zeroed in on a candidate as replacement for former Chief Strategy Officer Patrick Hillmann. Brad Jaffe, currently the company’s vice president of Communications, is likely going to be the replacement for Hillmann. Meanwhile, it appears that the crypto exchange is still in the look out for compliance senior vice president Steve Christie.
Earlier, CoinGape reported Binance chief Changpeng Zhao’s comments on the ongoing FUD around the sudden exits. He described the sudden developments as a normal ‘turnover’ and linked with the recent SEC lawsuit. However, a big takeaway from the recent regulatory onslaught against crypto market in the US has been the way Bitcoin price reacted with resilience. Although the crypto asset prices took a drop in response to the resignation news, it was after all a small dip.
Also Read: Arthur Hayes Sees Bitcoin as Currency for AI, Sets New Price Target
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