Binance.US CEO Brian Brooks has announced his resignation from the company, citing "strategic differences" as a main reason for stepping down.
This marks an abrupt change of plans after just weeks ago he had been promoted to co-CEO alongside Binance's current CEO Changpeng Zhao; something that was hailed by many in the industry and seen as refreshing at this time when there is talk about cryptocurrency exchanges experiencing low volumes like never before due to increased regulatory scrutiny around crypto trading on platforms across America and Europe alike.
In a recent tweet, Brock Brooks confirmed that his account was not hacked and cited “differences over strategic direction” between him and his colleagues. This is an interesting turn of events for the U.S arm of Binance global crypto exchange as he previously helmed the Office of The Comptroller Of The Currency (OCC), which regulates national banks under President Donald Trump since November 2017.
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!— Brian Brooks (@BrianBrooksUS) August 6, 2021
It seemed like a corporate move by Binance to recruit well-regarded former regulators from around the world. Then, Brooks’ abrupt departure in now raises questions as regulatory scrutiny of the largest crypto exchange has only intensified this year with different countries including Japan and U.K taking action against Binance; causing an uproar on social media platforms such as Facebook where people are raising their eyebrows at how so many high executives keep quitting within 6 months or less after being hired into positions that once looked certain for them.
Binance.US CEO, Changpeng “CZ” Zhao (Binance US' chairman), said in a statement that he is confident with Binance's business and its commitment to serve customers well. Brooks', the former BNBU CEO, departure will not affect any of these customer relationships; CZ had no word on who would fill this vacancy either as there was no successor or interim replacement named yet.
Binance.US’s CEO Zhao Binxin has expressed his gratitude for Brian Brooks, the former Chief Operating Officer of Binance US and global experience head at BlockchainLabs in a recent statement issued:
“Brian's work for Binance.US has been invaluable and we hope he will continue to be an integral part of crypto industry growth advocating regulations that move our industry forward."
In his time as acting comptroller of the currency, Brooks pursued an aggressively crypto-friendly reform agenda and met often with members of digital asset industry – from corporate CEOs to bleeding-edge entrepreneurs in decentralized finance space.
What's your view on this news? Would the change in Binance Management bring a good move for the company? Share your thoughts in the comments section below.
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