Binance executives have seen 8 departures since July, founder Changpeng Zhao: Ignore FUD, continue building

Following the departure of four executives in early July, another four high-level executives have resigned in September. Despite all of them confirming their departure except for Helen Hai, Head of Global Fiat Trading, Zhao Changpeng insists that this is FUD.

Binance Executives Resign Successively

Reports indicate that Binance's Chief Legal Officer, Chief Strategy Officer, and Head of Investigations have resigned one after another in the past few months, around early July, including:

1. Chief Legal Officer Hon Ng

2. Chief Strategy Officer Patrick Hillmann

3. Deputy Chief Compliance Officer Steven Christie

4. Global Head of Information and Investigations Matt Price

Binance Russia Executives Reportedly Resign

The Wall Street Journal reports that the latest list of resignations includes:

1. Binance Eastern Europe and Russia Director Gleb Kostarev

2. Russia and CIS Regional Manager Vladimir Smerkis

3. Global Fiat Trading Lead Helen Hai

4. Global Product and Design Lead Mayur Kamat

Gleb Kostarev and Vladimir Smerkis announced their resignations on Facebook, while Mayur Kamat confirmed the news to multiple media outlets.

Helen Hai has not released any information publicly.

Increasing Regulatory Pressure on Binance?

Reports suggest that the resignations of Binance executives occurred after The Wall Street Journal published two consecutive reports related to Binance's handling of a large volume of Russian trading business, which may intensify the U.S. Department of Justice's investigation into Binance.

• Binance considering exiting the Russian market, compliance issues continue to plague the cryptocurrency leader

• Ignoring financial sanctions? The Wall Street Journal: Binance still processing large volumes of ruble trades, end-to-end services assisting Russians in capital flight

Binance's Zhao Changpeng: FUD

Although the above-mentioned executives, except for Helen Hai, have publicly announced their resignations, Zhao Changpeng insists that this is FUD. He stated on Twitter:

Some of our team members are taking on more important roles, some have already left Binance and are embarking on a new and exciting adventure. I even offer them advice. We support everyone. Binance is a community. Additionally, resignations also create more growth opportunities for Binance. Ignore FUD and continue to build.

Some of our team members are growing into bigger roles, some outside of #Binance. Some are doing new exciting ventures. I even made intros/references for many of them. We are supportive of everyone. We are one community.

This also creates more growth opportunities within…

— CZ 🔶 Binance (@cz_binance) September 6, 2023