CZ Addresses Binance US Leadership Changes

Fear, uncertainty, and doubt (FUD) have been widely disseminated since the recent departure of Binance US CEO Brian Shroder regarding the company’s legal troubles in the United States. 

Binance CEO Changpeng Zhao (CZ) has, for the first time, spoken out against recent allegations and speculations.

CZ stated that Shroder deserved a vacation given all that he had accomplished for the company and acknowledged the recent management changes that had taken place at the US branch of the exchange. 

CZ cited the former CEO’s funding round arrangement, product and service enhancements, consolidation of internal operations, and the company’s increased market share in the United States as examples of company developments during Shroder’s tenure as CEO. CZ expressed appreciation for Shroder’s assistance.

As a result, he refuted the claim that Shroder resigned from his job to avoid the legal issues the company was facing at the time. 

He announced that Norman Reed, who had been serving as the interim CEO of Binance US, would now assume sole control of the organization.

He emphasized that the cryptocurrency industry is significantly different today compared to two years ago, as well as the fact that the regulatory climate has become considerably more hostile.

Consequently, this appointment was scheduled. Reed’s former executive positions at the SEC, New York FED, Ripple, and DTCC were brought to his attention, and it was stated that he is the optimal candidate for this position. 

CZ requested that the recent FUD be ignored and that development work continue.