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After facing severed banking relationships, hostile regulators, and several instances of FUD, multiple senior executives at Binance have reportedly turned in their resignations. The executives blamed their decision to quit on CEO Changpeng Zhaos handling of the regulatory inquiries and investigations into the exchanges operations. Their departure comes amid mounting regulatory and legal troubles for the worlds largest crypto exchange.

According to a report by Fortune, senior executives at Binance, including Chief Strategy Officer Patrick Hillmann, Senior Vice President for Compliance Steven Christie, and General Counsel Han Ng, informed the Chief Executive that they were quitting the company. A person familiar with the matter revealed that the executives blamed their departure on Changpeng Zhaos handling of the investigation by the US Department of Justice. The Justice Departments probe is just one of many filed by federal agencies in the United States.

Binance or CEO Changpeng Zhao have not put out an official statement addressing the news of the recent departures. However, CSO Patrick Hillmann took to Twitter to inform everyone that he was leaving the company on good terms and would continue to respect and support Zhao. The BNB token took a visible hit following the latest development and was trading at $234 at the time of writing.

The loss of key figures from legal and compliance departments will likely cause problems for the crypto giant, given that it is juggling several regulatory inquiries. The crypto exchange is currently facing probes from the Securities and Exchange Commission (SEC), and the Commodities and Futures Trading Commission (CFTC), among several other investigations. Matthew Price, Binances Chief of Global Investigations and Intelligence, also quit the company recently.

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Binances Senior Executives Quit Over Changpeng Zhaos Handling Of Investigations - Ethereum World News