Binance.US CEO Brian Brooks has resigned a mere four months after joining the U.S. franchise of the world’s largest cryptocurrency exchange Binance.com.
In a tweet today he wrote: “Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!”
He assumed the position on May 7th after a highly productive role as the Acting Comptroller of the Currency, where he oversaw the federal banking regulator issue the first national banking charter to a cryptocurrency company, Anchorage Digital, and provided guidance and interpretive letters clearing the way for banks to hold collateral underpinning stablecoins and participate in the clearance and settlement on blockchain-based transactions.
In a broad interview with Forbes a few weeks ago, he laid out an expansive vision for Binance.US that went far beyond operating a cryptocurrency exchange. In fact, he said that “the exchange business is not a profitable, long run business”.
He also highlighted the efforts that he was going to take to create further independence from Binance.US, such as adding additional U.S.-based members to its 3-person board and noted that the company was in the middle of an “impressive” fundraising round, saying that term sheets had been signed.
In a statement on Twitter confirming Brook’s resignation, Binance.com CEO Chanpeng Zhao wrote:
No further reason was given for the resignation, and a spokesperson for Brooks declined to elaborate.
Attention will now turn to his successor. The parent company Binance.com has been beset by accelerated regulatory scrutiny around the world, increasing the focus on locally-based regulated franchises such as Binance.US.
Some may wonder if his predecessor, Catherine Coley, who has remained quiet since she was replaced by Brooks, could return to the position she originated as Binance.US’ first CEO.
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