{"id":156178,"date":"2023-09-15T03:43:36","date_gmt":"2023-09-14T22:13:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=156178"},"modified":"2023-09-15T03:43:36","modified_gmt":"2023-09-14T22:13:36","slug":"two-more-top-executives-depart-binance-us-amid-layoffs-sec-action-report-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/two-more-top-executives-depart-binance-us-amid-layoffs-sec-action-report-crypto-news\/","title":{"rendered":"Two more top executives depart Binance.US amid layoffs, SEC action: Report – Crypto News"},"content":{"rendered":"
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Two more top executives are leaving Binance.US, one day after the departure of CEO Brian Shroder and the layoff of a third of its staff, The Wall Street Journal reported. Binance.US is the United States offshoot of the international cryptocurrency exchange. Head of legal Krishna Juvvadi and chief risk officer Sidney Majalya were said to be leaving.<\/p>\n

Juvvadi was hired<\/a> in May 2022, coming from Uber, where he was global head of compliance. Majalya joined the company in December 2021 after being Intel’s chief compliance officer. Before Intel, he, too, had worked for Uber.<\/p>\n

Juvvadi, The WSJ noted, \u201cwas one of the company\u2019s contacts for communicating with the SEC [United States Securities and Exchange Commission].\u201d Binance.US is facing legal action from the SEC. <\/p>\n

\n

News:https:\/\/t.co\/vjKMrUnANQ<\/a> on-boards its first-ever Chief Risk Officer<\/p>\n

Crypto exchange Binance US has hired its first-ever Chief risk officer Sidney Majalya from Intel Corp to stay in compliance…https:\/\/t.co\/hwdvPyS1b8<\/a>#binance<\/a> #cryptonews<\/a> #dailynews<\/a> #cryptoexchange<\/a> pic.twitter.com\/z1YZluAvii<\/a><\/p>\n

\u2014 CoinsCapture (@CoinsCapture) December 18, 2021<\/a><\/p><\/blockquote>\n

The agency requested to file sealed documents in the case in the U.S. District Court for the District of Columbia on Aug. 28, which a former SEC official interpreted<\/a> as possibly indicating a criminal probe by the Department of Justice. Bloomberg reported in May that a Justice Department probe of Binance was underway<\/a>. <\/p>\n

The SEC sued Binance.US,<\/a> Binance and CEO Changpeng Zhao in June, claiming they engaged in unregistered securities operations and other improprieties. That led to problems with Binance.US\u2019 banking partners and pauses in U.S. dollar deposits and withdrawals that were only resolved in August, when the company partnered<\/a>\u00a0with crypto payments firm MoonPay.<\/p>\n

Related: Binance\u2019s Richard Teng denies FTX comparisons: \u2018We welcome the scrutiny\u2019<\/a><\/em><\/strong><\/p>\n

Binance.US has objected to SEC legal tactics, requesting a protective order<\/a> against the agency in August and calling SEC requests<\/a> in a compel and reply motion \u201cunreasonable\u201d and \u201cunduly burdensome\u201d on Sept. 12.<\/p>\n

The Commodity Futures Trading Commission sued Binance in March<\/a>, alleging it violated trading and derivatives rules. Binance has also seen the departures<\/a> of executives this year, as well as layoffs.<\/p>\n

Cointelegraph contacted Binance.US but did not receive a response in time for publication.\u00a0<\/em><\/p>\n

Magazine: Multichain saga screws users, Binance fires 1,000 staff: Asia Express<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Two more top executives are leaving Binance.US, one day after the departure of CEO Brian Shroder and the layoff of a third of its staff, The Wall Street Journal reported. Binance.US is the United States offshoot of the international cryptocurrency exchange. Head of legal Krishna Juvvadi and chief risk officer Sidney Majalya were said to […]<\/p>\n","protected":false},"author":2,"featured_media":156179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-156178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156178","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=156178"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156178\/revisions"}],"predecessor-version":[{"id":156181,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156178\/revisions\/156181"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/156179"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=156178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=156178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=156178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}