The head of U.S. cryptocurrency exchange Binance resigns after three months

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Digital currency update

Brian Brooks, CEO of Binance America, announced that he will step down from the troubled cryptocurrency exchange in just three months, citing “a divergence of strategic direction.”

In a tweet, Brooks, the former U.S. banking regulator, wrote: “Let everyone know that I have resigned as CEO of Binance USA. Despite differences in strategic direction, I hope my former colleagues will succeed. Exciting new things are coming!”

Brooks served as the acting auditor of the Trump administration’s currency until January of this year, and then took charge of Binance’s American Group in May. Before leading the OCC, he was the chief legal officer of the cryptocurrency exchange Coinbase.

Suddenly leaving, Binance’s main global exchange, Binance.com, faced Critical review This year, regulators in the UK, Germany, Japan and Hong Kong expressed concerns about lax consumer protection and anti-money laundering practices.

The spotlight prompted some traditional financial services groups and investors Sever relationship communicate with.At the same time, the exchange has Move To curb the provision of certain high-risk derivative products, and to add additional protection for retail traders in certain regions.

Brooks has said in the past that although Binance USA and Binance.com have common major shareholder Zhao Changpeng, they operate independently. Brooks once stated that Binance USA obtained technology licenses from Binance.com.

In the interview Forbes last weekBrooks stated that he plans to ensure greater independence between the two by adding more board members to the US group unrelated to Binance.

He added that he expects Binance USA to become one of the company’s two largest cryptocurrency exchanges along with its main competitor Coinbase, and that the company is in a round of private financing. He also stated that he envisions the company going deeper into the field of decentralized finance.

Brooks did not immediately respond to a request for comment.

In a statement posted on Twitter, Zhao, who is also the CEO of Binance.com and Chairman of Binance USA, said that his resignation will not affect Binance USA’s customers, adding: “I am concerned about Binance USA’s business and Its commitment remains confident. Serving customers and constantly innovating. Binance America is ready to continue to develop and empower the future of finance.”



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