Two Key Executives Leave Binance.US In The Middle Of A Wave Of Layoffs

JAKARTA Binance's partner crypto company in the US, Binance.US, has begun to be abandoned by a number of its important officials. According to a Wall Street Journal report, Binance.US' two main executives have decided to leave the company, joining hundreds of Binance.US employees who have been laid off.

Two key figures for Binance US, namely the Head of Binance.US Law, Krishna Juvvadi, and Head of Risk, Sidney Majalya, officially left the company. Krishna Juvvadi joined Binance.US in May 2022, after previously serving as Head of Global Operations Compliance in Uber.

Meanwhile, Sidney Majalya joined the company in December 2021, with previous experience in compliance with well-known companies such as Oracle, Intel, and Uber.

It doesn't stop there, the latest report also notes that Binance.US CEO Brian Shroder has left his post after the company laid off about a third of the total employee.

However, the crypto exchange platform Binance.US is still operating. Only a few of its services have experienced a reduction, such as discontinued support for the US dollar and a special crypto exchange offer since August.

In addition, Binance has left several key executives. At least ten global Binance executives have left the company during 2023. Among them are Han Ng General Advisor, Chief Strategy Officer Patrick Hillmann, and SVP Compliance with Steven Christie. Other departures include Steve Milton, Matthew Price, Leon Foong, Mayur Kamat, Vladimir Smerkis, Gleb Kostrev, and Helen Hai.

The increasing number of company executives leaving Binance came after the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance and Binance.US in June. A number of positions left by the executive were then filled by other individuals.