On September 23, well-known cryptocurrency exchange Binance announced via tweet that it had recruited Steven Christie to head its compliance initiatives, who earlier worked as vice president of compliance at competitor exchange Kraken for five years.
Christie joined Binance in May and is currently in charge of a group of 750 employees. After the news media reported the information on September 23, Binance CEO and founder Changpeng Zhao revealed that Christie had been working with them for a number of months.
Changpeng Zhao via Twitter post also mentioned that the firm is still looking to hire another hundred additional compliance positions.
Binance decision to grow its compliance crew comes in response to many cautions issued by regulatory bodies worldwide.
Notingly, to highlight its “commitment to compliance,” the exchange declared the creation of a new international advisory committee this week.
The exchange’s ex-COO David Ripley will take over as CEO of Kraken in the coming months as a result of Jesse Powell’s resignation from the CEO position, with this following event Kraken ahead had a busy week. Powell will continue to serve as the exchange’s board of director chairperson.
In 2011, the US-based bitcoin exchange and bank Kraken was established. It was one of the initial bitcoin exchanges to float on Bloomberg Terminal and, as of mid-summer 2022, it was estimated to be worth $11 billion USD. Jesse Powell co-founded Kraken in 2011.
Kraken was one such exchange that offered regulated derivatives, index services, and spot trading with margin.
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