Binance US Loses Key Executives as Regulatory Issues Intensify Binance US, the American subsidiary of the well-known cryptocurrency exchange,
is experiencing a series of high-profile departures.
Today, Sidney Majalya, the Chief Risk Officer, and Krishna Juvvadi, the head of legal,
resigned according to a report by Wall Street Journal. Their exits followed the recent resignation
of Brian Shroder, the firm's President and CEO.
These departures
add weight to speculations about a potential ripple effect of high-level exits at the firm.
Both departures come amid increasing scrutiny
from the U.S. Securities and Exchange Commission (SEC). The SEC filed a lawsuit against Binance US and its CEO
earlier this year, accusing the company of running an unauthorized trading platform in the United States.
J
uvvadi was one of the main liaisons between Binance US and the SEC and joined the company in May 2022. Majalya took on the role
of CRO in December 2021.
Binance US commented on the departures, stating, "The SEC's aggressive attempts to cripple our industry and the resulting impacts
on our business have real-world consequences for American jobs and innovation, and this is an unfortunate
example of that."
