On July 6, Patrick Hillmann, the chief strategy officer of Binance, announced via tweet that he has resigned from the cryptocurrency exchange amid rumours that other top compliance managers in the US have submitted their resignations.
In a tweet, Patrick Hillmann stated, “I have decided to depart Binance, but I am doing so on good terms.”
Hillmann said, “I’ve been here for two years and it’s just the right time for me to leave and move on to the next challenge,” adding that “the moment is right for me to set this position aside” because he is currently expecting his second kid.
The tweet comes in response to a report, which claimed that Hillmann and other officials from Binance quit the exchange over CEO Changpeng “CZ” Zhao’s statement to the DOJ inquiry, citing a confidential source.
Han Ng, the general counsel and Steven Christie, the senior vice president for compliance, are said to have left the discussion.
Zhao called the claims “FUD,” saying the explanations for the CEO exits were “dreamed up” and totally false.”
According to another media, Noah Perlamn, who joined the business in February as chief compliance officer, will stay on while Eleanor Hughes, head of legal for APAC and MENA at Binance, will take over as general counsel in place of Ng.
Binance cited Zhao’s tweet, when questioned about the situation.
According to reports, the DOJ is looking into Binance for allegedly allowing Russians to utilise the exchange in breach of American sanctions.
The Securities and Exchange Commission (SEC) filed a lawsuit against Binance in June, alleging that Binance offered unregistered securities and improperly used client cash.
In March, Binance was also sued by the Commodities Futures Trading Commission (CFTC) for reportedly failing to file paperwork properly with the authority.
