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Brian Brooks Steps Down as Binance CEO

Binance CEO Brian Brooks has officially resigned after 4 months of acquiring the position, instigating shock and uncertainty among the global crypto community.

Brooks began his leadership position in May as a replacement for then CEO Catherine Coley, but as of yesterday, he announced his resignation via Twitter by citing that strategic differences with coworkers ultimately drove this major development.

The CEO of Binance (separate branch) Changpeng Zhao assured the crypto community that the resignation of Brian Brooks has no bearing over impacting users by restating the vision of Binance to commit to constant reinvention for providing exquisite service to its users and to maintain its position as a titan in the crypto exchange industry.

Nonetheless, this reassurance did not stop the crypto community from speculating ominously about the resignation. Opinionated and blunt members outright stated that internal knowledge of Binance, other drivers of the crypto market, and even the recent rigidity of regulations by certain countries.

Some alleged that countries such as Germany, the UK, Canada and Japan forcing Binance to relocate its operations for a number of reasons are the reason that Brooks resigned.

Crypto community members were quick to connect the dots between a comment that Brooks gave in an interview with Forbes a while back to the resignation that took place less than 24 hours ago. In the interview Brooks stated that in the long run, an exchange is not profitable, hence the viral unease among the community.

Javier Paz, Forbes writer declared that major disagreements were developing between the board and Brian Brooks because such an involvement would surely mean compromising morals.

Some members maintained that this statement is surely farfetched from an excited Brooks in his beginnings as Binance CEO since a full compliance program was exactly what the board urged.

Binance has been scrutinized in the past by the United States government under allegations of illicit trades and exchanges. CFTC is supposedly investigating the suspicious trading activity from the United States users.  

Also read: Electric Vehicle Industry Takes Advantage of Bitcoin Mining Ban in China

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