Bitcoin Exchange Binance.US CEO Brian Brooks Suddenly Resigns After Only Four Months

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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I am director of research for digital assets at Forbes. I was recently the Social Media/Copy Lead at Kraken, a cryptocurrency exchange based in the United States. Before

I am director of research for digital assets at Forbes. I was recently the Social Media/Copy Lead at Kraken, a cryptocurrency exchange based in the United States. Before joining Kraken I served as Chief Operating Officer at the Wall Street Blockchain Alliance, a non-profit trade association dedicated to the comprehensive adoption of cryptocurrencies and blockchain technologies across global markets. Before joining the WSBA, I was the Lead Associate within the Emerging Technologies practice at Spitzberg Partners, a boutique corporate advisory firm that advises leading firms across industries on blockchain technology. Previously I was Vice President/Lead Strategy Analyst at Citi FinTech, where I drove strategic and new business development initiatives for Citigroup’s Global Retail and Consumer Bank business across 20 countries. I also served five years as a Senior Intelligence Analyst at Booz Allen Hamilton supporting the U.S. Department of Defense. I have a B.S. in Business Administration from the Tepper School of Business at Carnegie Mellon University and a M.A. in International Affairs from Columbia University’s School of International and Public Affairs. Additionally, I am a Certified Information Privacy Professional (United States, Canada, and the European Union) and a Certified Information Privacy Technologist at the International Association of Privacy Professionals (IAPP).

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