Binance.US appoints former PayPal exec as CFO

Binance.US has hired former PayPal Holdings executive Jasmin Lee as its chief financial officer (CFO).

Lee is replacing interim CFO Eric Segal who has been in the position since October and will now withdraw from the company.

Binance.US CEO Brian Shroder welcomed the appointment and said that Lee will prove invaluable to the further expansion of the company.

The appointment is the latest of a string of hires whereby the cryptocurrency exchange has been targeting talent from the FinTech industry to bolster its operational capacity.

Lee is joining not directly from PayPal, but from Acorns, where she worked as COO. She also held an eight-year stint with PayPal.

Binance.US is turning to more traditional FinTech executives as the recent interest rate hike by the US Federal Reserve has unlocked a series of events that resulted in the crash of cryptocurrency lenders, including Celsius Network, Voyager and Vauld.

Voyager went bankrupt whereas the other two had to restrict their withdrawals angering their customers.

Apart from the dwindling cryptocurrency prices, regulators have also been looking to regulate the sector more tightly.

The recent spate of crashes and bankruptcies has called into question whether governments and central banks should step in and actively seek to regulate the industry once and for all.

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Source

Updated: 07/08/2022 — 17:00