Binance.US hires former Intel executive

The US unit of the bitcoin exchange Binance announced the appointment of Sidney Majalya to the position of Chief Risk Officer.

Join us in welcoming Sidney Majalya as Chief Risk Officer.
He’ll join the team next month as part of our commitment to expand our world-class risk and compliance organization.
Learn more: https://t.co/O1HkVxuPHh pic.twitter.com/tjge8wa6B4

— Binance.US 🇺🇸 (@BinanceUS) December 16, 2021

Majalya will report directly to the president of Binance.US, Brian Schroeder. The latter led the division in September 2021.

“Binance.US deeply committed to compliance with regulatory rules, and our priority is to sustain and develop the organization for compliance and risk management,” Majalya said.

Previously, he led divisions at Oracle and Uber. Since 2019, he has served as vice president for legal affairs and director of compliance at Intel.

In April Binance.US hired as CEO the former head of the Office of the Comptroller of the Currency within the U.S. Treasury, Brian Brooks. In July he left the company, citing ‘different views on the strategic direction of development’.

Media later reported on the clash between Brooks and Binance chief Changpeng Zhao. His position was temporarily filled by the chief financial officer of the US unit, Joshua Sroge.

In September Zhao announced plans for Binance.US to conduct an IPO on the US stock market within the next three years.

In November, the US unit of the bitcoin exchange Binance disclosed plans to raise $200 million ahead of the IPO.

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