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Binance.US Taps Joshua Sroge to Be Interim CEO
Sroge takes over from Brian Brooks, who resigned unexpectedly after just four months.
By James Rubin
Updated Sep 14, 2021, 1:42 p.m. Published Aug 19, 2021, 8:15 p.m.
Joshua Sroge has become Binance.US's interim CEO, replacing Brian Brooks, who resigned unexpectedly earlier this month from the U.S. arm of crypto exchange Binance.
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- Sroge joined Binance.US in January 2020, serving as its CFO.
- Brooks’ exit after just four months and the similarly unexpected departure of the director of Binance Brazil have been among a series of challenges for the world's largest crypto exchange by trading volume. Binance has faced intensifying regulatory scrutiny in several countries, including the U.K. and Japan.
- According to a report in the New York Times on Thursday, Brooks resigned after a venture capital investment he was trying to complete to diversify the company’s ownership fell through.
- The potential investors were concerned that U.S. authorities were investigating Binance over money laundering and tax issues, and also CEO Changpeng Zhao’s concentrated ownership of Binance.US. Zhao owns roughly 90% of Binance.US, according to the Times report.
- According to The Times, Sroge said in a statement that the company still intended to grow, including raising outside capital and “expanding its board of directors with experienced leaders, among other initiatives consistent with those pursued by fast-growing private companies.”
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Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
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