Binance US Chief Quits: After Three Months
Posted by Colin Lambert. Last updated: August 9, 2021
Troubled cryptocurrency exchange Binance has taken a further fit with the announcement that its US head, Brian Brooks, has quit after just three months in the job.
Binance has been hit with regulatory actions in multiple jurisdictions in recent months, including the UK, Japan, Germany and Hong Kong. Also, last week, the exchange announced as a more “active step” to ensuring compliance with various regulations, it was reducing the daily withdrawal for account holders who had completed only the “basic” account verification, from BTC 2 to BTC 0.6. Customers that have submitted information to meet the “intermediate” verification process are allowed BTC 100 withdrawals per day.
Brooks announced his departure over social media, citing “differences over strategic direction”. He joined the exchange in May after a 10 month stint as acting head of the US Office of the Comptroller of the Currency, prior to which he was chief legal officer for Coinbase for just over 18 months.