CZ Responds To Reports Of 3 Binance Senior Executives Resigning

Key Points:

• Binance CEO Changpeng Zhao (CZ) has responded to reports of the departure of 3 senior executives.
• CZ believes that the reports about their reasons for leaving are entirely untrue.
• According to reports, their departure is related to the ongoing investigation by the US Department of Justice.

Binance CEO Changpeng Zhao (CZ) responded to reports of “three Binance executives resigning” on Twitter. He said the reports about their reasons for leaving were utterly untrue.

“More FUD about some departures. Yes, there is turnover (at every company). But the reasons dreamed up by the “news” are completely wrong.”

CZ said that Binance is always working to protect its employees.

“As markets and the global environment for crypto changes, as our organization evolves, and as personal situations change, there is turnover at every company. We thank all of our ex-team members for their contributions to our growth, and wish them all the best.”

CZ also confirmed that it will continue to grow and continue to recruit.

Earlier today, Fortune magazine cited three Binance executives who resigned this week as Binance General Counsel Han Ng, Chief Strategy Officer Patrick Hillmann, and Senior Vice President of Compliance. Prime Minister Steven Christie.

Reportedly, their departure is related to the reaction of Binance founder Zhao Changpeng to the ongoing investigation by the US Department of Justice. Hillmann later confirmed his departure on Twitter and said he would “continue to respect and support” Changpeng Zhao. According to previous news, Matthew Price, Binance’s senior director of investigations, recently resigned.

Binance has been under strain for months amid regulatory investigations that have severed many of its key banking relationships globally.

Despite the difficulties, Binance and Coinbase staged a counter-attack by protesting the charges from the SEC and asserting their compliance with US laws. This is a bright spot, helping exchanges focus on restoring user confidence and proving their credibility.

The common point of Binance FUD times is that user assets are massively withdrawn from Binance and other centralized exchanges. Causing the trading volume on CEXs to drop sharply. However, the quick and timely responses of the CEO of Binance can be said to be always quick to stabilize the psychology of users.

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