Binance.US, the American arm of the leading crypto exchange Binance, has recently lost two key executives amid increased scrutiny from regulators. Krishna Juvvadi, the head of legal, and Sidney Majalya, the chief risk officer, are the latest in a series of high-level departures from the exchange. Juvvadi was reportedly one of Binance.US’s main points of contact with the Securities and Exchange Commission (SEC).

The exchange has also laid off one-third of its staff and its CEO, Brian Shroder, resigned. The reasons for the executives’ exits are unclear, but it is evident that Binance.US is under pressure to address regulatory concerns and maintain its position in the market.

In March 2023, the Commodity Futures Trading Commission (CFTC) sued Binance for selling unregistered futures and options contracts to US traders. In June 2023, the SEC filed charges against Binance and its founder, Changpeng Zhao, for running unregistered exchanges, offering unregistered securities, and making false statements about trading controls and oversight on the Binance.US platform. The SEC also alleges that Binance controlled Binance.US operations behind the scenes.

Binance is also being investigated by the US Department of Justice for possible money laundering and violating US sanctions by allowing Russian customers to access the exchange.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	10
People	Changpeng Zhao, Brian Shroder, Krishna Juvvadi, Sidney Majalya
Companies	Wall Street Journal, Commodity Futures Trading Commission (CFTC), Securities and Exchange Commission (SEC), US Department of Justice, Binance.US
Currencies	Bitcoin, Ethereum, US Dollar, Tether, COIN
Securities	None