At Binance.US, one Brian can hide another
The sudden departure of Brian Brooks as head of Binance.US caused a stir within the exchange platform. A former senior US Treasury official, Brooks may have been aware of a less bright future for Binance due to stricter regulation.
Since then, it has been learned that the resignation was due more to strategic differences between Binance.US and its now ex-CEO. A month later, the American subsidiary of the Chinese-based exchange platform, which has still not replaced Brooks, has recruited another Brian with a very different profile as chairman of the executive committee.
Brian Shroder is indeed the former CEO of Chinese fintech Ant and head of Uber’s Asian operations. So the institutional profile has given way to someone from the private sector. The announcement was made by Binance on Twitter.
Today, we are excited to welcome Brian Shroder as President of https://t.co/AZwoBOgsqS! As a former senior executive at Ant Group and Uber, Brian brings a wealth of experience to the team. Welcome, Brian!https://t.co/YiqgZHoglE pic.twitter.com/I2nA63A7aF
– Binance.US 🇺🇸 (@BinanceUS) September 9, 2021
On the same topic – Former US regulator becomes CEO of Binance.US
Binance.US’s new chairman wants the company to go public
The appointment of Shroder, a person known for his discretion and success, demonstrates Binance.US’s desire to make the company look good. According to a statement from the exchange, Shroder’s responsibilities will include overseeing the company’s strategy and development, as well as leading the product and technology, legal, and human resources departments.
In the same release, Shroder said he hopes his experience with high-growth companies will enable his new company to file for an initial public offering in the coming months.
According to the new chairman of the executive committee, Binance.US has all the ingredients to become the largest trading platform in the US.
In light of Binance’s latest setbacks, Brian Shroder assures that the company is compliant with current regulations, although he acknowledges that there may be a perception to the contrary due to a lack of clarity on the subject from the parent company.
Read – UK: FCA bans UK version of Binance from operating inthe UK
Binance wants to show regulators the ropes… and cheStill looking for a CEO
Anyone who follows crypto-currency news knows that Binance has indeed had a rather difficult last few weeks. Between bans and limitations on certain activities, the Chinese-born platform has been under the wrath of several regulators on all continents. European investors are also no longer able to make deposits via SEPA transfers.
In the United States, the only way for Binance to operate on the market was to create a local entity independent of the group. However, although emphasized by Changpeng Zhao, Binance’s CEO, the reality of this independence is being questioned following the sudden departure of Brian Brooks.
According to the New York Times, Zhao wanted to take back control of Binance.US, which did not please Brooks, who preferred to leave the ship.
The appointment of Shroder will probably bring stability to the exchange platform. Nevertheless, Binance.US is still looking for a CEO to replace Brooks and, at the moment, no information is available on the profile sought.
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About the author: Benjamin Allouch
Formerly a lawyer specializing in personal data and digital law, I quickly became interested in Bitcoin, blockchain technology and their legal implications. I am now a freelance consultant and writer in the field of cryptocurrencies and blockchain.
All articles by Benjamin Allouch.