Sixth Top Binance Exec Resigns Amid Ongoing Global Regulatory Scrutiny


September 4, 2023


Gabriel Negrín

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Mayur Kamat, Binance's global head of product, is the latest executive to leave the crypto exchange, adding to the company's ongoing leadership turnover. 

Kamat announced his departure after a 16-month stint and two decades of product development. He joins Asia-Pacific head Leon Foong, compliance executive Steven Christie, chief strategy officer Patrick Hillmann, general counsel Hon Ng, and US-based chief business officer Yibo Ling as departing executives.

This leadership shuffle corresponds with ongoing investigations by the US Department of Justice, which affected the decisions of several executives to resign. 

Binance, led by CEO Changpeng Zhao, is accused of misrepresenting trade volumes, deceiving investors, and inappropriately managing consumer funds. Furthermore, officials in Europe and Australia are investigating Binance for possible illegal actions.