CZ Addresses FUD After Binance.US Boss Quits, Shares What Will Save Binance in This Bear Market
U.Today
16 Sep 2023 9:57 AM
Head of Binance has published X post commenting on recent departure of another high-ranked executive...
- Binance CEO Changpeng Zhao (CZ) commented on the recent resignation of Brian Shroder, the head of Binance.US.
- CZ addressed the FUD surrounding Binance after several high-ranking executives left the company.
- Shroder's resignation was described as a well-deserved break after achieving goals and contributing to the growth of Binance.US.
- CZ expressed gratitude to Shroder for raising capital, improving products and services, solidifying internal processes, and gaining market share.
- CZ acknowledged the changing crypto market and the expanding hostile regulatory environment.
- Norman Reed, former SEC, New York Fed, Ripple, and DTCC executive, has been appointed as interim CEO of Binance.US.
- Shroder's resignation followed layoffs at Binance.US and accusations by the SEC of mismanaging customer funds and providing misleading data.
- Other top executives, Krishna Juvvadi and Sidney Majalya, have also left Binance.US.
- CZ emphasized the importance of continuous building in the face of market challenges.
The sentiment of the article is mixed. While CZ expresses gratitude towards Brian Shroder and highlights the achievements of Binance.US under his leadership, there are also mentions of challenges such as regulatory issues, executive departures, layoffs, and accusations by the SEC.