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Risk and legal executives at Binance.US reportedly leaving company

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The reported executive exits come at a time when Binance is grappling with regulatory pressures

Risk and legal executives at the U.S. affiliate of Binance are leaving at a time when the crypto giant is grappling with regulatory pressures, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Krishna Juvvadi, head of legal, and Sidney Majalya, chief risk officer, are leaving Binance.US, the report said.The company said on Tuesday its chief executive, Brian Shroder, would leave and it would cut more than 100 jobs – roughly a third of its headcount. The U.S. Securities and Exchange Commission in June filed a civil complaint against the world’s largest crypto exchange, Binance, and its founder Changpeng Zhao, accusing them of creating Binance.US as part of a “web of deception” to evade securities laws aimed at protecting U.S. investors.

Binance has also seen a number of executive exits. Its global head of product, Mayur Kamat, resigned early this month and its chief strategy officer, Patrick Hillmann, left in July.

 

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