Binance has finally introduced its newest CEO after the sudden resignation of former CEO Brian Brooks.
Binance.US confirmed the introduction of Brian Shroder as its new Chief Executive Officer (CEO) after the abrupt and contentious departure of its former CEO Brian Brooks. Shroder had already been a member of the Binance.US team as the former President, according to the crypto exchange platform’s community statement.
The responsibilities of Shroder in his previous position included financing, corporate and business development, strategy and execution, HR, legal department, and product and technology departments as well.
In light of the structural changes in Binance, Eric Segal has been appointed as Interim Chief Financial Officer (CFO) due to the current CFO Joshua Sroge preparing to leave the company as well.
There is quite a difference between the visions of the former Brian and current Brian in terms of what the future of Binance holds. While former CEO Brian Brooks stated that going public was not in the plans of Binance anytime soon, Brian Shroder wants to achieve an Initial Public Offering (IPO).
“In my short time with Binance.US, I have already seen the tremendous potential the company has for rapid growth in the United States…It is truly a privilege to work with the talented team that has built Binance.US into the innovative platform it is today, and I look forward to growing our team further as we continue to expand our products and services and begin our initial first steps on our pathway to IPO”, stated Shroder in the blog post announcing his appointment to CEO.
Brian Brooks’ decision to step down came as Binance.com, the top exchange platform, was under heavy examination from regulators around the world this year, including the United Kingdom, Germany, Japan, and Hong Kong, inter alia. Reservations over the company’s lax regulations and measures of consumer protection and anti-money laundering prompted the crackdown.
Binance.US has always said that it is separate from the main exchange because its service is solely available to residents of the United States. Despite this, Binance’s founder and CEO, Changpeng Zhao, owns the bulk of the company’s shares. Brook’s departure, which coincided with the intensification of the Binance.com investigation, added to the concerns.