The chief strategy officer of Binance, Patrick Hillmann, has officially announced his departure from the cryptocurrency exchange. This development comes in the wake of reports suggesting that several high-ranking compliance executives in the United States have also resigned from their positions.
In a tweet posted on July 6, Hillmann stated that he is leaving Biannce, but emphasized that his departure is amicable. He expressed gratitude for his two-year tenure and mentioned that it is time for him to seek new challenges. Additionally, Hillmann revealed that he and his partner are expecting their second child, “so the time is right for me to step aside.”
This tweet follows a report by Fortun, which indicated that several Binance executives, including Hillmann, decided to leave the exchange due to CEO Changpeng “CZ” Zhao’s handling of the Department of Justice’s investigation. The report cited an internal source for this information and mentioned the departures of general counsel Han Ng and senior vice president for compliance Steven Christie. ṣ
In light of these reports, Zhao, the CEO of Binance, took to Twitter to address them directly. He referred to the reports as “FUD,” an acronym for fear, uncertainty, and doubt, and categorically refuted the validity of the reasons cited for the executive resignations. According to Zhao, these alleged reasons were baseless and completely inaccurate.
According to another report from Bloomberg, which cited an unnamed source, Binance’s current head of legal for APAC and MENA, Eleanor Hughes, is set to assume the role of general counsel, taking over from Ng. Additionally, Noah Perlamn, who joined as the chief compliance officer in February, is expected to continue in his position at the company.
Furthermore, Binance is actively seeking to recruit an EU policy specialist who can navigate the difficult circumstances that the company has encountered in the region.
