2023-10-25 21:04:16
Binance Executives in UK and France Leave Crypto Exchange
Jonathan Farnell, who was at the helm of
Binance’s operations in the U.K. and later served as a chief executive of the payments technology firm
Bifinity, a subsidiary of the crypto behemoth, has left the company
in late September, media reports unveiled this week.
The news of his departure comes
as the U.K.’s Financial Conduct Authority (FCA) is working to impose stricter rules for the advertising of crypto assets to the public. The restrictive measures, announced in June, include a ban on
“refer a friend” bonuses, for example.
Last week, the Managing Director Binance France, Stéphanie Cabossioras, also vacated her position. She joined the exchange as head of legal
in April 2022 when Binance unveiled it had chosen Paris for its European hub.
Cabossioras and a Binance spokesperson
have confirmed her departure, according to a report by Bloomberg, while the President of Binance France, David Prinçay,
thanked her for her contribution in a post on X, formerly Twitter.
The resignations of Farnell and Cabossioras add to a series of executive exits at this year, including Chief Strategy Officer Patrick Hillmann, Senior Vice President for Compliance Steven Christie, Binance’s General Counsel Hon Ng, Leon Foong, who ran the crypto giant’s Asia-Pacific business, and Product Lead Mayur Kamat. Binance’s managers for Eastern Europe and Russia, Gleb Kostarev and Vladimir Smerkis, also quit the exchange as well as the CEO of Binance US, Brian Shroder.
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