Following the sudden and controversial departure of Brian Brooks in August, Binance.US announced the appointment of the new Chief Executive Officer (CEO), Brian Shroder. In its community announcement, the crypto exchange platform noted that Shroder had already been part of the Binance.US team as the former President. Brian Brooks quit the crypto exchange amid the increasing regulatory scrutiny that Binance was facing.
Brian Shroder has been a part of Binance for some time.
Brian Shroder was responsible for Binance’s strategy and execution, fundraising, business, corporate development, legal, human resources, and product & technology functions. Furthermore, Binance.US has also appointed Eric Segal as Interim Chief Financial Officer (CFO), as the present CFO, Joshua Sroge, prepares to take a leave from the company. Both the Brians of Binance appear to possess different visions for the company. In his statement as new CEO, Brian Shroder reinstated the company’s aim towards achieving IPO. Earlier, the former CEO, Brian Brooks, revealed that the exchange had no plans of opting for a public listing anytime soon.
Binance faced intense scrutiny this year from regulators globally.
Crypto exchange giant Binance faced intense scrutiny this year from financial regulators globally, including nations like the UK, Germany, Japan, and Hong Kong, among others. The crackdown was speculated to be over concerns around the company’s lack of consumer protection and anti-money laundering practices. Binance.US has emphasized from day one that it is independent of the main exchange as its service is only dedicated to US customers. Yet, Changpeng Zhao, founder, and CEO of Binance, hold the majority of stakes in the company. Furthermore, Brook’s exit as the crackdown on Binance.com intensified raises more suspicions.