Binance CCO Will not Join the Resignation Spree

Noah Perlman – Chief Compliance Officer of Binance – said he will continue working at the world’s largest cryptocurrency exchange. 

The company has been coping with serious regulatory problems recently, while some top executives resigned from their posts. CEO Changpeng Zhao (CZ) confirmed the departures, but claimed they were not related to the lawsuits coming from the US Securities and Exchange Commission (SEC) and issues with the Department of Justice (DOJ).

Not Abandoning the Ship

As CryptoPotato reported earlier today, some Binance executives left following the firm’s legal problems with watchdogs and authorities. Some examples are general counsel Han Ng and CSO Patrick Hillmann. 

The latter said he resigned on “good terms” and will continue to support and respect Zhao. He also explained that his wife is expected to give birth at any moment, making it the perfect time for him to step aside and focus on his family. 

“I will continue to cheer on my colleagues at Binance and support this industry as it matures and evolves. Blockchain and crypto are here to stay, and I am excited to watch it explode in the years ahead,” the former CSO concluded.

Unlike Hillmann and Ng, CCO Perlman has no intentions of leaving the exchange, stating he is “proud to be part of this incredible organization.” CZ seemed pleased with the decision, dropping a handshake emoji symbol below the Twitter post. 

The CEO claimed there was FUD about the departures. He outlined that some people have indeed left the company, but the reasons are not the ones “dreamed up by the “news.”” Unsurprisingly, he started his tweet with his signature number “4,” urging his followers to ignore media propaganda and misleading information.

The Legal Disputes

Binance’s issues with regulators escalated at the beginning of June when the US SEC accused the crypto platform, its American subsidiary, and CZ of breaching several rules. It also insisted that the firm offered trading services with unregistered securities such as the native token BNB and the stablecoin BUSD. 

Some media outlets informed that the Department of Justice also targeted Binance, specifically CEO Zhao, over alleged money-laundering activities.

Interestingly, the exchange recently hired M. Kendall Day – former prosecutor at the US Department of Justice – to appear as counsel in its legal battle against the SEC.