Brian Brooks resigns as Binance US chief executive after three months

The CEO of Binance’s US arm, Brian Brooks, left the post three months after his appointment.

Greetings #crypto community. Letting you all know that I have resigned as CEO of ⁦⁦⁦@BinanceUS⁩ . Despite differences over strategic direction, I wish my former colleagues much success. Exciting new things to come!

— Brian Brooks (@BrianBrooksUS) August 6, 2021

Brooks himself cited differences over the strategic direction of development as among the reasons for his departure.

On May 1, 2021 he replaced the former Binance US CEO Catherine Coley. After his appointment Brooks announced expansion of the staff fivefold in a year and a half.

Earlier he served as chief legal officer at Coinbase. In the summer of 2020, Donald Trump appointed Brooks as head of the Office of the Comptroller of the Currency (OCC) within the U.S. Treasury. On January 14, 2021 he resigned from that post.

Founder Binance Changpeng Zhao praised Brooks’s work. The exchange noted that his departure would not affect clients.

Brian’s work for https://t.co/hSHrrlF7o7 has been invaluable and we hope he will continue to be an integral part of the crypto industry’s growth, advocating for regulations that move our industry forward. We wish him the very best in his future endeavors. https://t.co/ya1sEmVyPb

— CZ 🔶 Binance (@cz_binance) August 6, 2021

Earlier Cayman Islands began an investigation into the exchange’s operations, Thailand and Hong Kong accused the company of conducting activities without a license, and Japan issued yet another warning.

Polish regulators urged caution when using Binance’s services. Italy and Malta warned consumers about the company’s unregulated activities.

The Malaysian Securities Commission announced enforcement action against Binance ‘for illegal management of a digital asset exchange (DAX)’, and authorities in India are examining the company’s role in a money-laundering case.

In ForkLog’s new report ‘July 2021 in numbers’ the regulatory claims raised against the trading platform over the past month are listed chronologically.

In July Zhao said that the U.S. unit of the exchange planned to conduct an IPO.

Read ForkLog’s Bitcoin news in our Telegram — cryptocurrency news, rates and analysis.