BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

The Binance.US Exodus Continues as Two More Executives Leave – Report

BlockNews Team by BlockNews Team
September 18, 2023
in BUSINESS, CRYPTO, FEATURED
Reading Time: 3 mins read
1
SHARES
13
VIEWS
Share on XShare in TelegramShare on Reddit
  • Two additional executives exit Binance.US, according to a WSJ report
  • This comes a day after Binance.US CEO Brian Shroder left his position
  • Despite the staffing challenges, the platform is still operational.

In a Wall Street report on September 14, two more Binance.US executives have left the company amidst other departures and layoffs. This comes just a day after Binance.US CEO Brian Shroder left his position. A WSJ report citing familiar sources noted that Krishna Juvvadi, the head of the legal position, and Sidney Majalya, the chief risk officer, departed from the platform.

Juvvadi joined the platform in May 2022 as the Vice president and Head of Legal. Krishna carried out tasks such as day-to-day operations of the company’s legal department and advancing the company’s efforts to become the most compliant digital asset platform in the U.S. On the other hand, Majalya was hired by Binance.US in December 2021 after being Intel’s chief compliance officer.

Further, both departments conducted layoffs in June, highlighting that the exchange is preparing for expensive litigation with the United States Securities and Exchange Commission (SEC). The Reuters reports disclosed that several employees in the company’s legal, risk, and compliance departments were slashed. The exits of the senior staff of Binance.US coincide with the SEC’s ongoing tussle against the exchange.

Javvad, the WSJ report stated,’’ was one of the company’s contacts for communicating with the Securities and Exchange Commission.

Binance vs. the SEC

Despite Binance.US’s staffing issues, the platform is still operational. However, various services have been minimized, as broader regulatory challenges have led the platform to pause U.S. dollar support. The platform has offered crypto-only exchange since last month, as the company partnered with crypto payments firm Moon Pay. 

In June, the SEC filed a lawsuit against Binance.US, Binance, and ChangPeng Zhao (CZ). The regulator claimed that the company inflated the platform’s trading volumes and other improprieties. Further, the SEC alleged that Binance.US  boosted trading volumes by using multiple user accounts held by Sigma chain (a Swiss trading company allegedly owned by CZ.)

Binance.US has objected to SEC legal tactics and has requested a protective order against the regulatory. On September 12, the platform called SEC’s requests in a compel and reply motion ‘’unreasonable’’ and ‘’unduly burdensome.’’

Recently, CZ released a statement discussing the challenges facing Binance from a global view. CZ acknowledged the persisting negative news allegations and staff turnover. However, the platform CEO has maintained that the global exchange is not experiencing any liquidity problems. He said;

‘’Guess what we don’t have? No problems with liquidity. All withdrawals (and deposits) are handled correctly. All customer funds are safe and secured 100%.”

Crypto Community Reaction On Binance.US Layoffs

Various crypto enthusiasts have voiced their comments via social media platforms concerning Binance.US’s staff departure. A Bloomberg analyst James Seyffart has commented on X (formerly Twitter), stating that;

‘’ Well… this cannot be a good sign for whatever is going on with Binance.”

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Binance.US
TweetShareShare
BlockNews Team

BlockNews Team

DON'T MISS THESE! HOT OFF THE PRESS

Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump
CRYPTO

Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

September 2, 2025
Strategy Expands Bitcoin Treasury: 4,048 BTC Added in $449M Purchase
BITCOIN

Strategy Expands Bitcoin Treasury: 4,048 BTC Added in $449M Purchase

September 2, 2025
VeChain Price Prediction: Can VET Hit $0.035 in September 2025?
CRYPTO

VeChain Price Prediction: Can VET Hit $0.035 in September 2025?

September 2, 2025
Musk’s DOGE Treasury Push: A $200M Dogecoin Fund on the Horizon
CRYPTO

Musk’s DOGE Treasury Push: A $200M Dogecoin Fund on the Horizon

September 2, 2025
XRP and JP Morgan: Why This News Is Shaking Things Up
CRYPTO

XRP and JP Morgan: Why This News Is Shaking Things Up

September 2, 2025
PENGU Holds Key Support as Traders Wait for Next Move
CRYPTO

PENGU Holds Key Support as Traders Wait for Next Move

September 2, 2025
Load More

Related News

Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

Gavin Newsom Teases “Trump Corruption Coin” in Latest Jab at President Trump

September 2, 2025
Strategy Expands Bitcoin Treasury: 4,048 BTC Added in $449M Purchase

Strategy Expands Bitcoin Treasury: 4,048 BTC Added in $449M Purchase

September 2, 2025
VeChain Price Prediction: Can VET Hit $0.035 in September 2025?

VeChain Price Prediction: Can VET Hit $0.035 in September 2025?

September 2, 2025
Musk’s DOGE Treasury Push: A $200M Dogecoin Fund on the Horizon

Musk’s DOGE Treasury Push: A $200M Dogecoin Fund on the Horizon

September 2, 2025
XRP and JP Morgan: Why This News Is Shaking Things Up

XRP and JP Morgan: Why This News Is Shaking Things Up

September 2, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews