{"id":154881,"date":"2023-09-13T09:31:57","date_gmt":"2023-09-13T04:01:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=154881"},"modified":"2023-09-13T09:31:57","modified_gmt":"2023-09-13T04:01:57","slug":"binance-us-cuts-one-third-of-workforce-ceo-steps-down-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/binance-us-cuts-one-third-of-workforce-ceo-steps-down-crypto-news\/","title":{"rendered":"Binance.US cuts one-third of workforce; CEO steps down &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The U.S. affiliate of the world\u2019s largest cryptocurrency exchange Binance has laid off one-third of its staff, or more than 100 employees. Brian Shroder, the chief executive officer, has also departed the company, a Binance.US spokesperson told <em>Forkast<\/em> on Wednesday.<\/p>\n<p><strong><em>See related article:<\/em><\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/mastercard-binance-card-shuts-down\/\">Mastercard and Binance end crypto card partnership, services shut down in Latin America, Middle East<\/a>\u00a0<\/p>\n<h2 class=\"wp-block-heading\">Fast facts<\/h2>\n<ul>\n<li>This downsizing effort will provide Binance.US \u201cmore than seven years of financial runway,\u201d the company spokesperson told <em>Forkast<\/em> in an email statement.\u00a0<\/li>\n<li>\u201cThe SEC\u2019s aggressive attempts to cripple our industry and the resulting impacts on our business have real world consequences for American jobs and innovation, and this is an unfortunate example of that,\u201d the spokesperson added.<\/li>\n<li>The crypto exchange has been dealing with growing regulatory pressures in the U.S. this year. In June, the company was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/binance-us-ceo-sec-lawsuit-securities-violations\/\">sued<\/a> by the Securities and Exchange Commission (SEC) for allegedly violating securities regulations.<\/li>\n<li>Norman Reed, the company\u2019s chief legal officer, assumed Shroder\u2019s position on an interim basis, the Binance.US spokesperson confirmed with <em>Forkast<\/em>.<\/li>\n<li>Binance, the parent company, also faces regulatory scrutiny from the U.S. The Commodity Futures Trading Commission (CFTC) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cftc.gov\/PressRoom\/PressReleases\/8680-23\">filed<\/a> a civil suit against the exchange and founder Changpeng Zhao in March for operating an \u201cintentionally opaque\u201d business to take advantage of \u201cregulatory arbitrage.\u201d<\/li>\n<li>The U.S. Department of Justice is also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/binance-could-face-fraud-charge-doj\/\">reported<\/a> to be closely monitoring Binance with the possibility of pursuing fraud charges against the trading platform.\u00a0<\/li>\n<li>Last week, Binance\u2019s global head of product Mayur Kamat resigned from the company, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/technology\/binance-global-head-product-mayur-kamat-resigns-block-2023-09-04\/\">Reuters<\/a>.<\/li>\n<\/ul>\n<p><strong><em>See related article:<\/em><\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/binance-denies-russia-sanctions-violations\/\">Binance denies Russia sanctions violation reported by WSJ<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. affiliate of the world\u2019s largest cryptocurrency exchange Binance has laid off one-third of its staff, or more than 100 employees. Brian Shroder, the chief executive officer, has also departed the company, a Binance.US spokesperson told Forkast on Wednesday. See related article: Mastercard and Binance end crypto card partnership, services shut down in Latin [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":154882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-154881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=154881"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154881\/revisions"}],"predecessor-version":[{"id":154883,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154881\/revisions\/154883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/154882"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=154881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=154881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=154881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}