Binance.US hires former PayPal executive Jasmine Li as CFO

The head of Binance’s U.S. arm, Brian Shroder, announced the appointment of Jasmine Li to the post of CFO. She previously spent eight years working at PayPal.

As the newest addition to our executive team, Jasmine will help drive efforts at #BinanceUS to progress towards an IPO within the next 2–3 years.

I spoke with @AnneSraders from @FortuneMagazine exclusively on the full story:https://t.co/hjbTdR3Xhd

— Brian Shroder (@BrianShroder) July 7, 2022

At the payments giant Li held various leadership roles, including chief financial officer and COO. She later moved to fintech firm Acorns.

“As the new addition to our team, Jasmine will help steer Binance.US’s efforts toward an IPO over the next two to three years,” noted Shroder.

According to him, Li’s experience at PayPal will be “invaluable” for the Bitcoin exchange. In the new role she will oversee financial operations, investor relations, and other matters.

Binance.US began operating in the United States in 2019. Shroder took the post of CEO in October 2021. In this role he succeeded the former head of the OCC Brian Brooks, having worked at the company for about three months.

Plans by Binance.US to raise financing were circulated in September. In November, the CEO of the parent company, Changpeng Zhao, disclosed plans to raise $200 million for the U.S. arm ahead of the exchange’s launch.

In April 2022, Binance.US raised $200 million in a seed round at a valuation of $4.5 billion. In June, reporters learned of plans for the U.S. unit to raise an additional $50 million.

The U.S. Securities and Exchange Commission has initiated an investigation into ties between Binance.US and two Zhao-affiliated trading firms, according to The Wall Street Journal.

In June, Binance’s U.S. platform was sued by investors in LUNA and TerraUSD (UST).

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