Binance Executive Responsible For The Fiat Business Leaves The Exchange Amid The Crisis
According to the Wall Street Journal, several high-ranking executives have bid farewell to cryptocurrency giant Binance, marking a period of significant senior turnover within the company. Notable departures include Gleb Kostarev, who served as the regional head overseeing the Commonwealth of Independent States region, encompassing Russia, Eastern Europe, Turkey, Australia, and New Zealand.
Vladimir Smerkis, the Russia chief, also stepped down. Additionally, Helen Hai, a long-standing figure at Binance since 2018, left her role, primarily leading the exchange’s global fiat business. Binance’s recent struggles with regulators have resulted in staff layoffs and benefit cutbacks. Late last month, it revealed its contemplation of withdrawing from the Russian market and ceased allowing customers to transact with sanctioned Russian banks. This action followed a Wall Street Journal report outlining the exchange’s involvement in facilitating Russians’ cross-border money transfers, which may have exacerbated its legal woes in the United States.
