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Blog

Binance.US Head of Legal and Chief Risk Officer Leaving the Crypto Exchange: WSJ

Binance.US has lost two more high-level executives, not long after the crypto exchange lost CEO Brian Shroder amid intensifying regulatory scrutiny.

Head of Legal Krishna Juvvadi and Chief Risk Officer Sidney Majalya are leaving the company, the Wall Street Journal reported, citing people familiar with the departures. Juvvadi was hired on May last year and Majalya was appointed in the role December 2021.

A company spokesperson declined to comment.

The departures come after Binance.US said its CEO Brian Shroder has left the crypto exchange and the company has eliminated one-third of its workforce.

Binance is facing a tough year as regulators have been cracking down on crypto exchanges, particularly in the U.S. The Securities and Exchange Commission sued the company in June for allegedly violating securities laws, which built on accusations from another American regulator, CFTC.

Earlier this month, Global Product Lead Mayur Kamat left the company after almost a year and a half. Binance also lost Chief Strategy Officer Patrick Hillmann, Senior Director of Investigations Matthew Price and senior vice president for compliance Steven Christie, among others, this year.

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