We continue to witness changes in the management team of Binance, the world’s largest cryptocurrency exchange, in light of recent developments in France. Stéphanie Cabossioras, the Administrative Director of Binance France, announced her resignation, becoming the 10th senior executive to depart from Binance this year.
It’s worth noting that a spokesperson for Binance mentioned that Cabossioras’ departure would not have any adverse impact on the company’s operations in France. Binance’s French branch had come under local investigation by the Paris Prosecutor’s Office in June, related to allegations of aggravated money laundering activities. However, following these events, Binance had stated that this investigation would not affect its operations in any way.
Statements by Binance CEO CZ About Resignations
Regarding the resignations, Binance CEO Changpeng “CZ” Zhao had previously characterized these departures as a normal part of the company’s development in a statement made on his Twitter account in July. He rejected news about the departures as “FUD,” which stands for fear, uncertainty, and doubt.
4. More FUD about some departures. Yes, there is turnover (at every company). But the reasons dreamed up by the “news” are completely wrong.— CZ 🔶 Binance (@cz_binance) July 6, 2023
As an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world’s largest crypto exchange in less than 5 months…
“As the markets and global landscape for cryptocurrencies evolve, as our organization grows, and as personal circumstances change, changes are occurring within our company, as is the case in any organization.”CZ