XRP Has Long History With New Binance CEO Norman Reed; Details
Following recent reports on the exit of Binance US chief executive officer Brian Shroder on September 13, 2023, the entity’s chief legal officer Norman Reed was said to have taken over the role in the interim. However, recent reports reveal that the company has proposed to name Reed as the permanent replacement for the CEO position. Also, Norman Reed is said to have had a long history with Ripple $XRP that dates back to 2015.
Also Read: “Expect Some Fireworks” at Next Binance Vs SEC Hearing: Ex-SEC Official\
Norman Reed And Links To Ripple $XRP
Reed, how has been an official with the US SEC as well as the Federal Reserve Bank of New York, had also worked in a key legal capacity for Ripple. According to attorney John Deaton, who represents XRP token holders in the SEC lawsuit, revealed that Reed had worked as the General Counsel of Ripple.
Norman Reed used to be the General Counsel of Ripple. His signature is on the 2015 FinCEN DOJ settlement with Ripple, which classified XRP as a “convertible virtual currency.”
Today’s General Counsel, a content platform for legal practitioners, confirms Reed’s appointment with Ripple on February 25, 2015.
US SEC Lawsuit To Intensify?
The exit of around 100 employees from Binance US comes at a time when the US Securities and Exchange Commission (SEC) appears to have intensified its efforts in the lawsuit. In a lawsuit filed in early June 2023, Binance, the company’s cofounder Changpeng Zhao, and Binance.US have been accused of mishandling customer funds, misleading investors and regulators, and violations of securities regulations.
Earlier in the week, CoinGape reported that the US SEC filed a memorandum in the Court in support of its motion to compel the exchange to submit documents related to the US customer assets.
Also Read: Elon Musk Increases Twitter ‘X’ Data Sharing on Hate Speech: WSJ
- ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks
- El Salvador’s Bitcoin Holdings Hit $475M Profit as BTC Becomes World’s 7th Largest Asset
- Breaking: Bitcoin Hits New ATH Above $125k as ‘Uptober’ Kicks Off in Full Force
- 99.3% of Bitcoin Supply in Profit, Analyst Warns of Short-Term Correction
- Pro-Crypto Mike Selig Emerges As CFTC Chair Frontrunner, Gains Ripple CLO’s Endorsement
- Dogecoin Price Rebounds 15% From Buy Zone as Whales Add 30M DOGE – Can Bulls Push Beyond $0.30?
- FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
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.
