Binance US CEO resigns with mounting regulatory pressure

Binance has been facing a lot of scrutiny as nations continue to bring more laws and increase regulation. One of the nations where it is facing a lot of pressure is the US, and this has resulted in the Binance CEO resigning. The reason cited by the Binance US CEO as he resigns the differences over strategic direction from this thought process. We have to wait and see who takes up this new vacant position in the US.

Binance US CEO resigns

Brian Brooks has resigned from his position after the mounting pressure of the regulatory pressure of the US. This means there is a chance that the company will look for a CEO with a strong regulatory background. He announced on Twitter, saying, “Greetings crypto community. Letting you all know that I have resigned as CEO of ⁦⁦⁦Binance US. Despite differences over strategic direction, I wish my former colleagues much success”. He also said that the company would continue to function efficiently, and his resignation will not change any business process.

Binance US CEO resigns
Image Source: Wall Street Journal

After this, the main CEO of the company has wished Brian all the best for his future endeavours. He also added, “We hope he will continue to be an integral part of the crypto industry’s growth, advocating for regulations that move our industry forward.” This means we could see Brian start his own independent journey or even join any other firm in the future.

Binance’s main CEO plans to step down

Binance’s CEO plans to step down from the main position and hire a new CEO. The company plans to hire someone with a strong regulatory background. This will be in order to show Binance as a company that works towards complying with various laws. It means that the current CEO of the company could step down to the position of Chairman. At the same time, this shift in leadership could help Binance come out of all the regulatory uncertainties they are facing and function more efficiently in all nations.

What are your thoughts on the effect on Binance as its US CEO resigns? And do you think they will look for the same profile as the main CEO? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Binance stops crypto derivate trading in HongKong.