Binance, the world’s leading crypto exchange by trading volume, has seen the departure of 10 key executives from various departments in the first nine months of 2023. This has been a key talking point in the crypto community, as the number of executives leaving amid growing regulatory troubles has been a cause for concern. The latest to join the list is Helen Hai, the executive vice president of the crypto exchange, who announced her resignation from her post on Sept. 6. On the same day, Gleb Kostarev, Binance’s vice president of Eastern Europe, Turkey, the Commonwealth of Independent States, Australia, and New Zealand, also announced his resignation, as did Russia and CIS general manager Vladimir Smerkis. Binance CEO Chang Peng Zhao dismissed reports of the executives leaving due to the crypto exchange’s response to the Department of Justice investigation, labelling them as FUD. Zhao took to X (formerly Twitter) to address the growing chatter around the departure of key executives again on Sept. 6. He said that many members from Binance are moving into bigger roles, some outside of Binance as well. The crypto community has become a bit more sceptical about exchanges post-FTX collapse. Binance over the years has faced regulatory troubles in more than a dozen countries. The crypto exchange on-boarded many former government officials and compliance officers to help it mitigate the regulatory complexities, however, in 2023, many of these executives have left the crypto exchange. Most of the executives leaving the crypto exchange have said that their departure was routine and they share a good relationship with the crypto exchange and its CEO. However, the crypto community remains concerned about the number of executives leaving Binance amid growing regulatory troubles.

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Information	Details
Geography	Europe
Countries	🇹🇷 🇦🇺 🇳🇿
Sentiment	neutral
Relevance Score	9
People	Leon Foong, Mayur Kamat, Helen Hai, Gleb Kostarev, Vladimir Smerkis
Companies	Cointelegraph, Department of Justice, Fortune, Binance, X (formerly Twitter)
Currencies	None
Securities	None