Skip to main content
WeLoveCrypto.com may receive compensation from affiliate partners for some links on the site. Read our full Disclosure here.

Why Did Brian Brooks Leave Binance U.S., And Should You Be Concerned?


34 views

Brian Brooks just stepped down as C.E.O. of BinanceUS….

Brooks claimed that he is resigning from BinanceUS due to ‘”differences in strategic direction”. Hopefully this news isn’t tied to the upcoming vote on the infrastructure bill which contains crushing crypto regulations…..

Many traders and investors are concerned that this will have an effect on the platform they all know and love, but Changpeng Zhao says there is no cause for alarm.

As always, I wonder if we are getting the full story here, or if details will later emerge to show that this resignation had to do with more than mere “strategic” differences.

Brooks said in a tweet:

Coin Telegraph writes:

The general mood on Crypto Twitter was that the resignation was “very strange,” especially given all the excitement surrounding Brooks’ hiring just a few months earlier.

At the time of writing, Brooks has yet to disclose his career plans. Before joining Binance.US, he served in several high-profile roles at Coinbase and the United States Office of the Comptroller of the Currency.

More details could be found in Bloomberg:

The U.S. firm shares a name with Binance Holdings Ltd., the world’s biggest cryptocurrency exchange. Binance Holdings faces a U.S. Justice Department investigation into whether its platform has facilitated money laundering and tax evasion. Numerous countries have also announced probes and demanded that Binance affiliates cease operations within their borders.

Brooks told Bloomberg in a May interview that he considered it a pivotal part of his job to explain to regulators that the company has a “heavily compliance-focused approach.”

In the interview, Brooks sought to downplay ties to Binance Holdings. He said Binance.US operates independently and merely licenses the Binance name and some of its technology for a fee.

 

Want more? To stay up to date on all our news, please follow us on Facebook here:


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

We Love Crypto
Thanks for sharing!
Send this to a friend