Binance, the largest crypto exchange in the world, has reportedly terminated the employment of several of its staff members based in the United States. Recent departures include the General Counsel, Chief Strategy Officer, Head of Investigations, and Senior Vice President of Compliance.
Binance CEO Changpeng Zhao confirmed the resignation of Patrick Hillmann but did not disclose the reasons behind the other departures. In a Twitter post, Zhao acknowledged that changes occur within organizations due to evolving market conditions, the ever-changing crypto landscape, and personal circumstances.
As Binance conducted significant layoffs last week, some employees were not given any explanation for their terminations, while others were informed that their positions had become redundant. In any case, Binance is clearly implementing a plan to downsize its workforce in the United States.
The exchange has been engaged in negotiations with the United States SEC and the Justice Department for several months, hoping to reach a compromise. However, in June, the SEC filed a lawsuit against Zhao, Binance, and the U.S branch of the exchange, accusing Binance of operating an illicit trading platform in the country and misusing customer funds.
Binance has approximately 8,000 employees worldwide, about 150 of which are based in the United States. It is important to note that this figure does not include Binance.US employees. Recently, Binance.US also carried out layoffs, affecting roughly 50 individuals, which accounts for just below 10% of its total workforce.
Binance.US Begins Laying Off Employees
![](https://files.constantcontact.com/b44f1673801/daf76b5d-3027-4fd3-95d5-b31b2f636e34.jpg)
![](https://cryptoweekly.co/img/CryptoWeekly-Logo.png.webp)
Subscribe to the CryptoWeekly Newsletter
Get the top stories, funding deals, technical analysis, cryptocurrency jobs and much more delivered to your inbox, every Monday morning.
![](https://files.constantcontact.com/b44f1673801/007fb39e-64a1-44d1-97a3-6bb63fbe3ecc.jpg)
September 07,2024
Here Is How To Protect Yourself Against Crypto Hackers
![](https://files.constantcontact.com/b44f1673801/bcb9aa30-2af3-45c0-b0a6-695e0fe2811c.jpg)
September 06,2024
Telegram Users Can Now Report Illegal Content In Private Chats
![](https://files.constantcontact.com/b44f1673801/74acd2e6-5cca-423a-ac05-6c11afa3cb21.jpg)
September 06,2024
EigenLayer Will Redistribute 86 Million Tokens In Season 2 Airdrop
![](https://files.constantcontact.com/b44f1673801/b0ac91e4-071f-4ec7-8a19-00c9bbfe3050.jpg)
September 05,2024
Richard Teng Demands Tigran Gambaryan Be Released Immediately
![](https://files.constantcontact.com/b44f1673801/7f1d072f-aba9-438e-b837-dc87942c1fb8.jpg)
September 05,2024
Robinhood Being Forced To Pay Massive Fine For Previous Ban
![](https://files.constantcontact.com/b44f1673801/f804f702-8ce4-4eab-ad22-f68184cbd0d1.jpg)
September 04,2024
Hackers Promote Fraudulent Trump Family Project
![](https://files.constantcontact.com/b44f1673801/ef78b196-b83a-40f0-b7a5-6afc6d611299.jpg)
September 04,2024
John Deaton Challenges Elizabeth Warren After Clinching Republican US Senate Primary
![](https://files.constantcontact.com/b44f1673801/e7fa3941-2075-493f-977a-2d444234d2df.jpg)
September 03,2024
WazirX Hacker Moves Stolen Funds To Tornado Cash
![](https://files.constantcontact.com/b44f1673801/30e804d5-317b-4791-85a9-2789be796c1c.jpg)
September 03,2024
Here Is Why September Is A Crucial Month For Crypto
![](https://files.constantcontact.com/b44f1673801/f0400e30-e320-4f0c-9d1c-c88bed6ff723.jpg)
September 02,2024
A New Era For Cardano Begins As Chang Hard Fork Goes Live
![](https://files.constantcontact.com/b44f1673801/86254ea6-6147-4373-a42d-1952e8fa8803.jpg)
September 02,2024
BTC Miners Experience Worst Revenue Month Since September 2023
![](https://files.constantcontact.com/b44f1673801/1f8410b4-84a0-45f9-96cf-9873e5c22712.jpg)
September 02,2024