Binance faces huge criticism and suspicions after the resignation CEO of Binance.us
2 min readThe world of cryptocurrencies is leaving the first big name. After less than four months as CEO of Binance.US, the largest cryptomen exchange, Brian Brooks has announced that he is resigning.
What were the reactions?
The founder of the exchange, Changpeng Zhao said that this step will have absolutely no effect on customers of the crypto exchange Binance.US. However, the community reacted quickly and relatively harshly. Brooks’ resignation casts a rather bad shadow and suspicion on the company’s main executives.
“As one of the largest crypto exchanges in the United States, Binance.US is ready to continue to grow and strengthen the future of the financial world.” said Zhao.
Reasons for resignation CEO of Binance.us
Brooks said the main reason for his resignation was differences in the strategic direction of the exchange.
Greetings #crypto community. Letting you all know that I have resigned as CEO of @BinanceUS. Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!
– Brian Brooks (@BrianBrooksUS) August 6, 2021
However, the community believes that there is something different and especially more threatening behind the resignation. There is speculation, in particular, that Brooks knows something that should not get out. It may be, for example, his internal knowledge that he has acquired, but more attention is being paid to the latest regulatory issues.
Brian Brooks knows something big 🤔 https://t.co/lLhErXNBw4
– Ivan on Tech – Made with Moralis 👨💻🔨 (@IvanOnTech) August 6, 2021
Binance is in big trouble
The exchange had to react very quickly to the regulatory authorities, so it gradually began to close more operations in important regions. The stock market is simply not in favor in many countries such as Japan, UK, Germany, Canada and others.
Binance is facing scrutiny even in the United States, where the Department of Justice and the Tax Office have investigated the firm for alleged illegal business activity. The exchange is allegedly the subject of an investigation by the Commodity Futures Trading Commission in relation to the alleged illegal trade by American traders.
Ex-Binance US CEO Brian Brooks: “An exchange is not a profitable long term business.”
SBF: “….?” pic.twitter.com/xsd9kAJNDz
– Alan (@AlanStacked) August 6, 2021
In any case, Binance is facing enormous pressure and it is really questionable whether it will stand. It is therefore necessary to continue to monitor the situation closely, as things have taken a turn for the worse. Keep watching us. We will definitely inform you about everything.
