The chief executive of Binance’s U.S. arm has left the embattled crypto exchange.
Brian Shroder, who took the helm of Binance.US in 2021, will be succeeded on an interim basis by the company’s chief legal officer, Norman Reed, according to a company spokesperson. The company is also cutting about one-third of its workforce—or more than 100 employees.
“The actions we are taking today provide Binance.US with more than seven years of financial runway and enable us to continue to serve our customers while we operate as a crypto-only exchange,” the spokeswoman said.
Read the full story on The Wall Street Journal here.