Brian Shroder, president and CEO of Binance US, has left his position. The news comes after several leadership exits and the layoffs of over 100 employees. Norman Reed, chief legal officer, will take over.
Binance is still the most popular cryptocurrency exchange in the world based on volume, despite having legal concerns with the US Securities and Exchange Commission (SEC) for suspected securities regulation violations.
Following the brief halt to fiat withdrawals and the suspension of dollar deposits, Binance US changed its platform to be "crypto-only" early this year. CEO Changpeng 'CZ' Zhao has brushed off worries about the stability of the company. He assured customer funds are secure and asserted that Binance is ahead in regulatory compliance.