Binance CSO Resigns Amid Concerns of Multiple Execs Leaving the Firm
- Binance Chief Strategy Officer Patrick Hillmann has resigned from the firm on good terms.
- Hillmann said that his wife is giving birth to a second baby, stating that this is the right time to leave.
- Fortune reported that general counsel Han Ng and senior VP for compliance Steven Christie left the firm.
- Bloomberg claims that the head of legal for APAC and MENA, Eleanor Hughes, will be the new general counsel.
Patrick Hillmann, the Chief Strategy Officer of the world’s largest crypto exchange by trading volume, Binance, has announced his resignation from the firm after serving at the leading crypto exchange for more than two years. This announcement comes at a time when the exchange is facing regulatory scrutiny in France, Australia, the United States, and other countries.
As per an announcement via social media platform Twitter, the former Binance executive stated that he was not expecting to be tweeting about this today,” while adding that he is leaving the crypto firm on good terms. He said that he had the utmost respect for the co-founder and CEO of Binance, Changpeng Zhao, also known as CZ in the crypto space, and revealed that he is “grateful for having had the incredible opportunity to work under his leadership.”
“I’ve been here for two years, and it’s simply time for me to move on to the next challenge. I’ve taken this company through a lifetime of industry crises and regulatory challenges—from Luna to 3AC to FTX. Despite all of these challenges, the company has continued to grow and thrive,” Hillmann said.
Hillmann also revealed that his wife is “going to give birth to our second child any hour now (literally), so the time is right for me to step aside.” The former Binance CSO remains bullish on blockchain and crypto, adding that the industry is “here to stay, and I am excited to watch it explode in the years ahead.”
On the other hand, a report from Fortune stated that several executives at the crypto exchange, including general counsel Han Ng and senior vice president for compliance Steven Christie, have left Binance over Zhao’s response to the investigations launched into the exchange by the US Department of Justice, or DoJ.
Zhao was quick enough to dismiss the report, stating it as “FUD” while adding that the reasons for the departures have been completely “dreamed up.”
More importantly, a separate report from Bloomberg said that the head of legal for APAC and MENA at Binance, Eleanor Hughes, is set to become the new general counsel, replacing Ng, while Noah Perlamn, who joined as chief compliance officer in February, will remain at the company.
As reported earlier by BitcoinWisdom, it was revealed that if CZ resigns from his post as the CEO of the crypto exchange, Richard Teng, the head of all markets outside the US, will take over.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
