John Deaton Sees Positive Potential in Norman Reed Leading Binance US
Coinpedia
18 Sep 2023 5:02 AM
Brian Shroder, the CEO of Binance US, is going on a break after two years of hustle. To deal with these challenges, Norman Reed, who used to work at the...
- Qadir Ak, founder of Coinpedia, has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010.
- Brian Shroder, CEO of Binance US, is taking a break after two years of work, and Norman Reed, a former SEC and New York Federal Reserve employee, will be the temporary CEO.
- Binance US is making changes to adapt to new rules, including leadership changes and employee layoffs.
- Norman Reed, the temporary CEO, was once the General Counsel of Ripple and his signature is on the 2015 settlement agreement between FinCEN and the DOJ regarding Ripple.
- As part of the settlement agreement, Reed committed to hiring an independent auditor to conduct audits of all XRP sales for five years.
- Pro-XRP lawyer John Deaton sees Reed's involvement with Binance US as a positive sign, considering his previous experience with Ripple and the settlement agreement.
- Jeremy Hogan and Deaton express doubts about Reed becoming CEO, suggesting it may not be a growth-oriented decision.
- Despite the challenges, Deaton sees Reed's decision to stay with Binance US as a positive sign in a difficult situation.
The sentiment in the article is mixed. John Deaton sees Norman Reed's involvement with Binance US as a positive sign, while Jeremy Hogan and Deaton express doubts about Reed becoming CEO.