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Brian Brooks unexpectedly quits as CEO of Binance US subsidiary
Former currency controller Brian Brooks abruptly stepped down as chief executive of Binance.US, the U.S. subsidiary of the largest cryptocurrency exchange in terms of reported trading volumes globally.
In a tweet, Brooks hinted that “differences in strategic direction” are likely the reason for his unexpected resignation.
Greetings #crypto community. I let you know that I have resigned as CEO of@BinanceUS. Despite the differences on the strategic direction, I wish my former colleagues every success. New exciting things to come!
– Brian Brooks (@BrianBrooksUS) August 6, 2021
In his statement, Binance CEO Changpeng Zhao said he remains “confident” in the business of the subsidiary, assuring his client that the transition will not impact users “in any way.”
Zhao further praised Brooks for his “invaluable” work, wishing him “the best” in a follow-up tweet.
Brian’s work for https://t.co/hSHrrlF7o7 has been invaluable and we hope he will continue to be an integral part of the growth of the crypto industry, advocating for regulations that move our industry forward. We wish him the best in his future endeavors. https://t.co/ya1sEmVyPb
– CZ 🔶 Binance (@cz_binance) August 6, 2021
The former banking regulator assumed the role in early May after leaving the OCC.
Catherine Coley, her predecessor, split from Binance.US without making a statement. His sudden disappearance from social media has sparked speculation about his fate.
Over the past two months, Binance has come under severe regulatory scrutiny in a large number of countries. This has caused the exchange to take a proactive approach to regulatory compliance, according to a recent tweet posted by Zhao.
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