Claim BonusTop Binance Exec Explains Real Reason Behind Sudden Resignation
Crypto Market News: After fear and uncertainty prevailed in the crypto market over reports of top Binance.US executives leaving the company, one of the top executives revealed the real reason behind leaving the world’s top crypto exchange. The exchange, along with US based crypto exchange Coinbase, was slapped with a lawsuit by the U.S. Securities and Exchange Commission (SEC) in June 2023. Besides the unregistered offer and sale of securities, the SEC charged Binance with operating unregistered exchanges, broker-dealers, and clearing agencies and misrepresenting trading controls and oversight on the Binance.US platform. Despite back to back lawsuits against the two top exchanges, the crypto asset prices stood strong.
Also Read: US Fed Powell, ECB Lagarde Aggressively Hawkish, Can Bitcoin Price Still Hit $35000?
Although the outgoing executives did not explicitly cite the ongoing regulatory onslaught against the crypto market, traders and investors believe it to the real underlying reason behind the sudden resignation from the top executives. In fact, Patrick Hillmann, Binance’s chief strategy officer, said he was leaving the company on good terms. In a latest, Steven Christie, senior vice president for compliance, explained the circumstances in which he announced resignation after having worked in crypto compliance since 2015.
For A “Happy Wife”
Steven Christie explained the purely personal reasons that influenced his decision to take a break from the job. Stating that he intends to spend time with family, the top executive denied reports of FUD around the crypto lawsuits. Interestingly, he was all praise for the compliance program at Binance.
“I have been in crypto compliance since 2015 when I joined Xapo, spending the last six years straight leading and growing the Compliance functions at Kraken and Binance without a break. At this point I am simply tired.”
Meanwhile, a lawsuit filed by the US Commodity Futures Trading Commission (CFTC) against Binance might be heading towards a settlement.
Also Read: How Bitcoin, Ethereum Price Move As US Unemployment Rate and Nonfarm Payroll Fall?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Expert Predicts Bitcoin Dip to $49K as ‘Trump Insider’ Whale Dumps 5,000 BTC
- Bitcoin Price Rebounds $70K, Here are the Top Reasons Why?
- Crypto Market Weekly Recap: Crypto Bill White House Meeting, Binance Buys $1B BTC, and More (9- Feb 13)
- TRUMP Coin Pumps 5% as Canary Capital Amends ETF Filing With New Details
- Crypto Prices Surge Today: BTC, ETH, XRP, SOL Soar Despite US Government Shutdown
- Crypto Price Prediction For the Week Ahead: Dogecoin, Solana and Cardano
- Bitcoin Price Prediction: How Could Brazil’s Strategic Bitcoin Reserve Proposal Impact BTC?
- 3 Top Reasons Pi Network Price Surging Today (14 Feb)
- XRP Price Prediction Ahead of Potential U.S. Government Shutdown Today
- Bitcoin Price Outlook As Gold And Silver Lose $3.6 Trillion in Market Value
- XRP and Ethereum Price Prediction as Trump Seeks to Lower Key Tariffs
