Brian Brooks, chief executive of the U.S. arm of global cryptocurrency exchange Binance, said on Friday he had resigned just three months aftertaking up the role.
The former U.S. banking regulator and crypto enthusiast is resigning at a time when regulators in Hong Kong, Britain, Germany, Japan, Italy and Thailand have cracked down on Binance due to worries over investor protection. Watchdogs globally also fret that the boom in cryptocurrencies is aiding money laundering and increasing systemic risks.
Headed by Canadian Changpeng Zhao, Binance offers a wide range of services globally, from crypto spot and derivatives trading to tokenised versions of stocks, as well as its own cryptocurrency, Binance Coin. Brooks did not respond to requests for further comment. A spokesperson for Binance declined to comment.
In the United States, Binance is also being probed by the Department of Justice, the Commodity Futures Trading Commission and tax authorities, Bloomberg News has reported.
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