Binance, a cryptocurrency exchange, has hired Eleanor Hughes as its new general counsel, following the departure of Han Ng.
Binance, a leading cryptocurrency exchange, has chosen Eleanor Hughes as its new general counsel, following the departure of Han Ng. Last week, Han Ng, along with Patrick Hillmann (chief strategy officer) and Steven Christie (senior vice president for compliance), resigned from their positions at Binance.
This series of resignations has led to speculation about a possible internal crisis within the exchange.
Amid rumors of trouble, Steven Christie, the former Senior Vice President (SVP), wrote a statement explaining his personal reasons for taking a break from his job. Importantly, he had positive remarks about the company’s compliance program.
The world’s leading cryptocurrency exchange, Binance, is currently involved in legal disputes with the United States Commodities Futures Trading Commission (CFTC) and the US Securities and Exchange Commission (SEC).
Introducing Eleanor Hughes: Binance’s New General Counsel:
Hughes, who brings more than 15 years of legal expertise, joined Binance’s legal team in November 2021. As the new General Counsel, she will lead a group of 85 lawyers and collaborate closely with the company’s Compliance team, as stated in an official statement by the exchange. Binance CEO CZ expressed that Hughes has become a reliable advisor to both himself and the team when it comes to legal affairs.
“With Eleanor leading the way, I have full confidence that our exceptional legal team will continue to thrive in their mission of safeguarding users and effectively managing risks on our platform.”
The company emphasized that the appointment of the new general counsel played a vital role in obtaining licenses and registrations as a virtual asset service provider. This is particularly significant as crypto exchanges have recently faced legal challenges related to these licenses.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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