Top executives are leaving Binance - is Changpeng Zhao the reason?

Some key figures at Binance are quitting. Reportedly because of investigations by the U.S. Department of Justice - and CZ's response to them.

Changpeng Zhao's reactions to the ongoing investigation reportedly did not go down well. Forbes claims to have heard this from a person "familiar with the matter." Executives include Patrick Hillmann, chief strategy officer, and Steven Christie, senior vice president for compliance.

Binance cites other reasons for the terminations. U.S. regulators CFTC and SEC have sued Binance this year. Several countries in Europe have also denied licenses and launched investigations.

Since 2018, the US Department of Justice has reportedly been personally investigating Binance and CZ. Rumors of an indictment have been circulating since December 2022, and Binance's founder could face a prison sentence in the process. The court situation is a threat to Binance's survival.

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