Fortune recently published an article discussing the departure of three senior executives from Binance. Binance General Counsel Hon Ng, Senior Vice President of Compliance Steven Christie and Director of Strategic Development Patrick Hillmann said they are leaving the company.
The publication stated that “Binance is plunging into a management and strategic crisis.”. According to Fortune, these “high-profile layoffs” are related to the ongoing investigation by U.S. law enforcement into Binance. Another possible reason is allegations by the U.S. Securities and Exchange Commission (SEC) that the exchange trades in unregistered securities.
However, Hillmann clarified that he maintains a good relationship with Binance, and the main reason for his departure is the addition to his family. Hillmann thanked Changpeng Zhao for the opportunity to work under him. Chief Compliance Officer Noah Perlman has confirmed that he will remain with the company.
Zhao commented on the situation on Twitter, saying that the media is making up reasons for some executives to leave, spreading fear, doubt and uncertainty (FUD). According to Zhao, employee turnover is present in all companies. However, in 6 years, Binance has grown from 30 to 8,000 people, becoming the largest cryptocurrency exchange within five months of its founding, and still holding its position.
Zhao often refutes media reports published about him or Binance. A few months ago, he denied Bloomberg information as if his capital exceeded $28 billion.. In April, Zhao also denied rumors of receiving a notice from Interpol.<br