Top 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?
- Ethereum and BMNR Rallies as BitMine Drops $1B on ETH, Analyst Hails “Most Bullish Setup Yet”
- ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?
- Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle
- Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
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.
