Binance Labs Head Bill Qian Steps Down from His Role

As noted by Chinese journalist and insider Colin Wu, Binance Labs is currently led by a Boston Consulting Group veteran.

Two directors left Binance’s VC department in last few weeks

Mr. Wu has taken to Twitter to share the details of crucial resignation events at Binance Labs, a firm that coordinates Binance’s VC efforts in crypto.

After the departure of Bill, the former head of Binance Labs, the Binance investment department is temporarily led by @kenkxli. He graduated from Harvard, worked at BCG since 2017 and joined Binance in 2021. Bill posted on June 4 that will continue to work as investor in WEB3. https://t.co/pgQdQbl1HW

— Wu Blockchain (@WuBlockchain) June 4, 2022

Bill Qian, the head of Binance Labs, posted today, June 4, 2022, that he will continue his career in Web3 as an investor. He joined Binance Labs in March 2020; therefore, all crucial investments the firm has made are associated with his leadership.

Also, Nicole Zhang, executive director of Binance Labs, quit in May 2022, according to her LinkedIn page. Ms. Zhang had also started working there in March 2020.

After the resignation of two key figureheads, Binance Labs is temporarily led by Ken Li, Harvard graduate and BCG alumni.

Hiring freeze accelerates in Web3

Amid a severe correction of the cryptocurrency market, many industry heavyweights are cutting their hiring campaigns. As covered by U.Today previously, leading U.S.-based CEX Coinbase is even rescinding job offers for those employees who have not started working.

Previously, the company released a statement to highlight that it would reassess its hiring campaign “against highest-priority business goals.”

Similar measures were imposed by Gemini, a top-tier crypto ecosystem led by the Winklevii twins, as “crypto winter is here.”

Binance Coin (BNB), a core native utility token of the Binance ecosystem, dropped below the critical level of $300.