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

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:

Greetings #crypto community. Letting you all know that I have resigned as CEO of ⁦⁦⁦@BinanceUS⁩ . Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!

— Brian Brooks (@BrianBrooksUS) August 6, 2021

Something isn’t right at binance

Cathrine Coley doesn’t even tweet anymore at all.

Brian brooks rolled out

They blocked me.

Yeah..Rug Pull in coming.🤣

— Dxron – I Steal Whale Money. (@Dxron2) August 7, 2021

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.

Brian's work for https://t.co/hSHrrlF7o7 has been invaluable and we hope he will continue to be an integral part of the crypto industry’s growth, advocating for regulations that move our industry forward. We wish him the very best in his future endeavors. https://t.co/ya1sEmVyPb

— CZ 🔶 Binance (@cz_binance) August 6, 2021

Brian Brooks steps down. I suspect that one of the differences they were having were over relisting #XRP.
Brian has too much integrity to stay @BinanceUS.
He is truly one of us. https://t.co/A60bC32AsA pic.twitter.com/YnM7K3JH0y

— 432Hz XRP (@432XRP) August 6, 2021

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.

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