Binance Sees Another High-Profile Departure as Former Head of UK Moves On

Binance lost its head of U.K. operations last month, continuing a stream of high-level execs heading for the door at the world’s largest crypto exchange.

Jonathan Farnell, who served as head of Binance U.K. and CEO of its payment service Bifinity (which was disbanded in August) left the firm in September, according to his LinkedIn profile.

“We’d like to thank Jonathan for his contributions and wish him all the best on his next challenge,” Binance said in an emailed statement.

Farnell joined Binance in May 2021, and the following year, he took up the position of CEO of Eqonex, the holding company of crypto custodian Digivault as per the terms of a loan agreement, which gave Binance the right to appoint a CEO from within Bifinity.

Bifinity was looking to acquire Eqonex at the time, but it fell through, and Eqonex entered voluntary liquidation in November 2022.

Farnell appeared to serve as Eqonex CEO concurrently with his employ at Binance, according to his LinkedIn profile.

Binance has suffered a number of high-profile departures in recent months, most recently losing Global Product Lead Mayur Kamat earlier this month. This followed Chief Strategy Officer Patrick Hillmann, Senior Director of Investigations Matthew Price and SVP for Compliance Steven Christie, who all left the company in early July.