Binance.US CEO steps down

Binance.US CEO Brian Brooks has stepped down from his position as of Friday last week.

In a Twitter announcement, Brooks said that he was withdrawing from the helm of the world’s largest cryptocurrency exchange after four months on the job.

While some people were skeptical of Brooks stepping down amid the company’s serious regulatory challenges, the chief executive confirmed he had done so for various media outlets, including CoinDesk.

Brooks was hired to assist with mounting regulatory pressure over the sale of securities, which Binance has denied it is doing through any of its subsidiaries.

Brooks is the second c-level executive to step down from the company in so many months, following the withdrawal of Binance Brazil’s chief executive.

Besieged by regulatory scrutiny in Japan, the UK and several states in the US, Binance has been trying to remedy the situation.

The company has complied with all immediate demands. Company CEO Changpeng Zhao has said that he is confident in Binance’s ability to cater to its customers in the US despite recent developments.

Zhao has refrained from commenting on why Brooks left, but in the tweet announcing his departure, Brooks said that the rift was caused by “differences over strategic direction”.

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Updated: 08/09/2021 — 11:00