“We can confirm that Mayur Kamat has stepped down as product manager. We are grateful to him for helping Binance get through our biggest growth ever and we wish him all the best,” Binance said in an official statement.
Kamat confirmed his departure, saying he was leaving the company for “personal reasons”:
“The time has come to step down and hand over product leadership to Binance’s next generation leaders. I have worked closely with other leaders to ensure a smooth transition. For me personally, now is a good time to take a vacation after 20 years of non-stop product development.”
The top manager assures that working at Binance was a rewarding experience.
“Thanks to CZ (Binance Founder Changpeng Zhao) and the whole team for this great opportunity. I will support Binance,” promised the retired.
Mayur Kamat joined Binance in April 2022 after working for companies such as Google, Microsoft, and Agoda. According to the LinkedIn profile, the head of the department helped Binance grow from 80M to over 150M users in 18 months.
Binance Asia Pacific CEO Leon Foong left the company last week. Other recent layoffs include Chief Strategy Officer Patrick Hillman, General Counsel Hon Ng and Chief Business Officer Yibo Ling.
Binance’s market share has declined in recent months due to issues with US authorities. In February, the market share of the cryptocurrency exchange in spot trading volumes was 63%, and now it has fallen to about 47%. However, Binance remains the largest cryptocurrency exchange in the world.
Source: Bits
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