Breaking his silence, Binance CEO Changpeng Zhao (CZ) criticized the recent speculations. CZ acknowledged the recent management changes at the exchange’s US branch and said Shroder deserved a break after what he had accomplished for the company.
Referring to the changes experienced in the company under Shroder’s management, CZ cited the former CEO’s financing round arrangement, product and service improvements, consolidation of internal operations and the market share growth they gained in the USA as examples.
CZ thanked Shroder for his services. Thus, he rejected claims that Shroder left his job to get away from the legal problems the company was experiencing.
He announced that Norman Reed, who is currently the interim CEO, has been appointed as the new CEO of Binance US. He cited the reason for this appointment as the cryptocurrency world is much different than it was two years ago and there is now a more hostile regulatory environment. He reminded that Reed is a former SEC, New York FED, Ripple and DTCC executive and said that he is the right name for this task.
CZ requested that the recent FUD be ignored and development continued.
*This is not investment advice.