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Binance CEO CZ Addresses Exodus of Managers for First Time

Wed, 09/06/2023 - 15:20
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Vladislav Sopov
Binance's (BNB) CEO commented on executives' mass quitting with optimistic tone
Binance CEO CZ Addresses Exodus of Managers for First Time
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As more and more top managers are leaving Binance (BNB), the largest spot cryptocurrency exchange in the world, its CEO yet again recommends ignoring the "FUD" and concentrating on building.

CZ sees "more growth opportunities" inside Binance (BNB) as executives quit

Changpeng Zhao himself made reference to the top Binance (BNB) executives that are leaving his company. Some officers are growing into bigger roles, while others have decided to continue their careers outside the company. Also, some former Binance (BNB) directors are starting their own venture capital firms in 2023.

CZ issued such a statement on his X account today, on Sept. 6, 2023. This is the first time he decided to publicly address the ever-growing exodus of Binance's (BNB) highest executives.

He also stressed that this process unlocks more growth opportunities for managers inside Binance (BNB). However, he remains supportive of all quitting officers and still treats them as members of "one community."

Also, in his patented manner, Changpeng Zhao recommended that everyone ignore FUD. Semi-ironically, he admitted that he "comes across" this narrative a few hours per day.

It should be noted that the high-ranked officers started leaving Binance (BNB) amid the regulatory crackdown in Q3, 2023. In July 2023, chief strategy officer Patrick Hillmann and compliance VP Steven Christie stepped down from their positions.

In recent days, Binance product lead Mayur Kamat and general counsel Han Ng also left CZ's team.

Binance Coin (BNB) fails to act after "keep building" message by CEO

Last but not least, today, Sept. 6, 2023, the exchange's CIS director Vladimir Smerkis and VP for Eastern Europe Gleb Kostarev announced that they were leaving Binance (BNB).

As covered by U.Today previously, Binance (BNB) is facing a lawsuit filed by the U.S. Securities and Exchanges Commission (SEC). Also, it might be under investigation by the Department of Justice and Internal Revenue Service. The law enforcers alleged that Binance (BNB) might be involved in sanctions circumvention and trading of unregistered securities.

Binance Coin (BNB) is changing hands at $214.87, down 0.1% in last 24 hours.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)