Global fintech and funding innovation ecosystem

SEC Accuses Binance.US of Not Cooperating With Investigation as Executives Exit

Crypto | Sep 15, 2023

Unsplash Loic Leray Tight Rope - SEC Accuses Binance.US of Not Cooperating With Investigation as Executives Exit

Image: Unsplash/Loic Leray

Binance.US grapples with heightened SEC scrutiny and internal upheavals, marking a tumultuous phase for the leading crypto exchange

Executives Exit and Internal Changes

  • Adding to the complexity, key risk executives are leaving or recently exited Binance.US. company:
  • Norman Reed, Binance.US's chief legal officer and general counsel, will step in as interim CEO.
    • Reed is an alum of the SEC, having spent six years as special counsel in its market regulation division.
    • His appointment follows Brian Brooks, who left the role citing differences over strategic direction.

See:  SEC’s Sealed Court Filing Raises Eyebrows for Potential Binance Setback

The regulatory challenges facing Binance.US are a microcosm of the broader issues affecting the cryptocurrency industry. As the SEC tightens its grip, the company is undergoing significant internal changes, including executive departures and layoffs.


NCFA Jan 2018 resize - SEC Accuses Binance.US of Not Cooperating With Investigation as Executives ExitThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - SEC Accuses Binance.US of Not Cooperating With Investigation as Executives ExitFF Logo 400 v3 - SEC Accuses Binance.US of Not Cooperating With Investigation as Executives Exitcommunity social impact - SEC Accuses Binance.US of Not Cooperating With Investigation as Executives Exit

Support NCFA by Following us on Twitter!







NCFA Sign up for our newsletter - SEC Accuses Binance.US of Not Cooperating With Investigation as Executives Exit




 

Leave a Reply

Your email address will not be published. Required fields are marked *

13 − eleven =