Binance CEO Changpeng Zhao in U.S. stalled amid independence fight: reports

Brian Brooks, one of the most prominent figures in cryptography, caused a wave of speculation about what happened earlier this month due to his sudden departure as head of us operation Binance, a post he held for just three months.

Now the picture is getting clearer as polls published Thursday in New York and The New York Times suggest Binance is being replaced by founder Changpeng Zhao (CZ) amid regulatory disputes and a clash over how to navigate its U.S. subsidiaries with the parent company.

Brooks earned a reputation as Coinbase’s chief counsel and for his crypto-friendly policy, running the currency Comptroller, an independent office in the Department of Finance that oversees banking regulations. In early May, he joined Binance in the hope that his experience in Washington, D.C., would help give legitimacy to the company’s U.S. operations as it seeks to expand its presence in the country.

According to reports, Brooks sought to implement a multifaceted strategy focused on the distance between binance and Binance USA-in part by appointing independent board members to decommission Binance and amassing $ 100 million in capital to help the US merger run independently. A key part of the plan would also be to transfer Binance technology to servers in the US, but this was cancelled in August:

“The translation was the final piece of the puzzle that Brooks believes may have left problems with Binance editing in the past. But in the early days of August, when Brooks completed his transfer plans, CZ abruptly shut down…. His strategy was rejected, Brooks saw no way to solve the company’s regulatory problems and therefore could no longer work there. That’s why he announced his resignation on August 6, ” The New York Times reported, citing an unnamed source.

Hiring of Binance CEO in U.S. gives cracks at Circle, Coinbase: sources

Slightly different F in the New York Times

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