Binance.US will cut a third of the staff, including the CEO
Date: 2023-09-13 Author: Karina Ziganova Categories: IN WORLD
CEO of the Binance.US exchange Brian Schroeder left his post amid the layoff of a third of its staff. Bloomberg reports this with reference to a company representative.
He will be temporarily replaced by the company's general counsel, Norman Reed, the source noted. Schroeder joined Binance.US in 2021. Before that, he was a top manager at Ant Group and Uber.
At the same time, the company plans to cut a third of its staff, the publication said. This is approximately 100 people, and the current wave of layoffs is the second in recent months.
The first was reported in June 2023. According to various sources, layoffs of up to 10% of the staff were reported. The reason was the optimization of costs against the backdrop of litigation with the US Securities and Exchange Commission (SEC).
In a commentary to Bloomberg, a representative of the unit noted that the current reduction is a forced measure. It is designed to ensure the company's prosperity in the future.
He also said that pressure on the platform from the SEC is causing damage to the American economy and citizens.
Information about Schroeder’s resignation and a new wave of layoffs has not yet been confirmed by either Binance or Changpeng Zhao.
It is noteworthy that in early August information appeared that the CEO of the global exchange Binance, Changpeng Zhao, planned to close the American division, but Schroeder was against it. CZ later denied this.
Employees flee the company
Covered a series of resignations of Binance top managers, including two heads of the CIS and the Russian Federation. At the same time, some partners, including payment service providers Mastercard and Visa, broke off cooperation with the exchange.
CZ, in turn, urged not to believe FUD. He explained all the dismissals by personnel changes.
