Helen Hai, who has held senior positions at Binance since 2018, has left her post. This was reported Wall Street Journal (WSJ), citing people familiar with the details of the firing.
Until recently, Hai served as the Executive Vice President of Binance. She also led charitable foundation Binance Charity and led the department for working with fiat currencies.
The publication clarified that this department is working with payment processing firms and banks to ensure customers can exchange dollars and other traditional currencies for digital assets.
After Binance got into trouble with financial regulators, some fiat service providers severed ties with the exchange. In particular, Checkout refused to work with Binance due to money laundering concerns.
Earlier, another head of the company’s global product department, Mayur Kamat, also submitted his resignation.
In addition, two top managers for the Russian Federation and the CIS, Gleb Kostarev and Vladimir Smerkis, left Binance. Binance CEO Changpeng Zhao explained the layoffs by personnel changes and called for “ignoring FUD.”
Binance has come under scrutiny from regulators, including the US Securities and Exchange Commission (SEC). In June 2023, the Commission accused the exchange and its founder, Changpeng Zhao, of violating securities regulations. In addition, the SEC filed a secret petition in the Binance case.
The exchange also faced an investigation by the Department of Justice regarding the control of money laundering.
Source: Cryptocurrency
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