According to morning news in the media, Binance US CEO Bryan Shroder has resigned from his position. Binance, which has faced a series of legal obstacles recently and has come under the radar of regulators with the lawsuit filed by the SEC, has started to reduce its workforce and has accelerated layoffs. It is claimed that more than 100 employees have been laid off at Binance US.
Binance Under Regulatory Scrutiny
Binance, the world’s largest cryptocurrency exchange in terms of trading volume, has come under the radar of regulators following the lawsuit filed by the US Securities and Exchange Commission (SEC) against Binance and its CEO Changpeng Zhao in June. The consecutive lawsuits filed by the SEC against Binance and Coinbase in June have escalated the tension between crypto companies and financial regulators.
Furthermore, Binance’s various license applications in several European countries have been rejected recently. During this process, there have been many reports stating that Binance is reducing its workforce and starting layoffs, with hundreds of employees being laid off in recent months.
There has been a new development in the morning hours regarding the issue. It was announced that Binance US CEO Bryan Shroder has resigned from his position.
Binance US CEO Resigns from Position
Binance, which has recently come under the radar of regulators, has faced a series of legal obstacles. Following the recent developments, Binance has decided to reduce its workforce and has started layoffs.
Binance US CEO Bryan Shroder has resigned from his position. It is claimed that more than 100 employees have been laid off at Binance US, the subsidiary of Binance which preferred to reduce its workforce. Former CEO Bryan Shroder has not made any posts regarding the issue on his social media accounts yet.
