It really hasn’t been a good year for crypto Binance so far! Amid back-to-back regulatory attacks and rising scrutiny, Binance U.S. CEO and former Acting Comptroller Brian Brooks have resigned on Friday, August 6.
The resignation comes just within three months of him joining the crypto firm. Brooks has been the proponent of innovations in the crypto space. More importantly, he’s been an influential figure having served the Office of the Comptroller of the Currency (OCC) during the Trump administration.
Without adding much, Brooks noted some strategic differences with the Binance U.S. team. In his tweet on Friday, Brooks wrote:
Greetings #crypto community. Letting you all know that I have resigned as CEO of @BinanceUS. Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!
This unexpected and sudden departure further put Binance in the limelight of the regulators. Apart from Brooks, the director of Binance Brazil has also quit his office just within just months of joining the firm. Binance CEO Changpeng Zhao also commented on Brooks’s departure. He wrote:
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Brian’s work for Binance.US has been invaluable and we hope he will continue to be an integral part of the crypto industry’s growth, advocating for regulations that move our industry forward. We wish him the very best in his future endeavors.
Binance In Deep Waters
Over the last two months, regulators from across the globe have slapped notices to Binance for failing to initiate necessary regulatory measures. Yesterday itself, Binance announced that it shall be suspending its crypto derivative services in Hong Kong.
Two weeks back, Binance discontinued its stock tokens offerings just within three months of launch. Well, such developments are certainly not for a global crypto exchange that clocks the highest trading volumes.
The fact that binance doesn’t have a global headquarters has irked the regulators more.
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