Chief Executive Officer of Binance US, Brian Shroder, has left the company amid an ongoing regulatory crackdown and more job cuts. Shroder’s departure comes two years after he joined the American subsidiary of the world’s largest cryptocurrency exchange by daily trading volume.
Shroder Departs Binance US as Unit Eliminates Over 100 Positions
The CEO of Binance US, Brian Shroder, has quit his job and has been replaced on the post by an interim appointment, the exchange’s Chief Legal Officer, Norman Reed, Bloomberg revealed in a report quoting a company spokesperson.
Shroder is leaving while the Miami-based entity is reducing its workforce by a third, or more than 100 employees, amid persisting pressure from regulators that has hurt its business. Its monthly trading volume has fallen below early 2020 levels.
Binance US’s market share dropped to 1.5% in June, according to digital assets market data provider Kaiko, and currently stands at around 0.6%, down from 2.39% in April of th
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