<\/p>\n
For three straight weeks, a narrative has been forming around Binance and Binance.US.\u00a0<\/p>\n
Binance is alleged to be hemorrhaging high level employees left and right, which has led many to speculate about what could be in store for the world\u2019s largest crypto exchange.<\/p>\n
Brian Shroder, who has been the CEO of Binance.US since 2021, left this week<\/a> along with a third of the company\u2019s employees who were laid off simultaneously.<\/p>\n Shroder made it a little over three months after the US Securities and Exchange Commission charged Binance, BAM Trading and Binance.US<\/a>, accusing the trio of firms of mishandling customer funds and failing to register as securities dealers.\u00a0<\/p>\n Shroder himself hasn\u2019t commented on why he left Binance.US, but Binance CEO Changpeng Zhao addressed the issue on X, formerly Twitter, claiming that the former chief executive is simply \u201ctaking a deserved break.\u201d<\/p>\n \u201cThe crypto market is in a different place now than it was two years ago, with a rapidly evolving and increasingly hostile regulatory environment. Norman Reed \u2013 former SEC, New York Fed, Ripple, and DTCC executive \u2013 is the right person to lead @BinanceUS in this market,\u201d Zhao wrote Friday.<\/p>\n Zhao, however, made no mention of the reported<\/a> exits of Krishna Juvvadi, the head of legal at Binance.US, and Sidney Majalya, the chief risk officer.<\/p>\n The apparent departure of Juvvadi and Majalya was reported by the Wall Street Journal just days after Shroder\u2019s fate was disclosed.\u00a0<\/p>\n Last week, three executives left Binance<\/a>. And the week before, it lost its APAC-chief<\/a>.<\/p>\n As Binance.US deals with three high-profile executives leaving the company, a former employee found new work at Manhattan law firm O\u2019Melveny.<\/p>\n Brian Brooks, who had a short stint as CEO of Binance.US in 2021, rejoined O\u2019Melveny after he served as a managing partner of the firm from 1994 to 2011, according to his LinkedIn profile<\/a>.<\/p>\n The University of Chicago-educated lawyer stepped down from his leadership role<\/a> at Binance.US after just three months, citing strategic differences with his colleagues.\u00a0<\/p>\n Brooks has had a storied career in law, finance and government.\u00a0<\/p>\n He was the chief legal officer at Coinbase before Paul Grewal took over the role in Sept. 2020.\u00a0<\/p>\n During the Trump Administration, Brooks was the acting Comptroller of the Currency as well as a board member on the Federal Deposit Insurance Corporation and Fannie Mae. Previously, under President Barack Obama, Brooks was an executive vice president at Fannie Mae as well.\u00a0<\/p>\n Get the day\u2019s top crypto news and insights delivered to your email every evening.\u00a0Subscribe to Blockworks\u2019 free newsletter<\/a>\u00a0now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can\u2019t-miss tweets and more from\u00a0Blockworks Research\u2019s Daily Debrief<\/a>.<\/strong><\/p>\n Can\u2019t wait? Get our news the fastest way possible.\u00a0Join us on Telegram<\/a>\u00a0and follow us on\u00a0Google News<\/a>.<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" For three straight weeks, a narrative has been forming around Binance and Binance.US.\u00a0 Binance is alleged to be hemorrhaging high level employees left and right, which has led many to speculate about what could be in store for the world\u2019s largest crypto exchange. Brian Shroder, who has been the CEO of Binance.US since 2021, left […]<\/p>\n","protected":false},"author":2,"featured_media":157567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-157566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/157566","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=157566"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/157566\/revisions"}],"predecessor-version":[{"id":157569,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/157566\/revisions\/157569"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/157567"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=157566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=157566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=157566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Binance.US alum finds gig<\/h2>\n
Other notable hires<\/h2>\n
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