Brian Brooks, who worked as the Comptroller of the Currency of the United States of America during the administration of Donald Trump, resigned as CEO of Binance.US on August 6.
The information came from Brian Brooks himself through a tweet he published on his Twitter. Although the message did not delve into why Brooks left the position, it indicated some differences in the strategic direction within the platform. He also took the opportunity to express his good wishes for the entire team.
Brooks’s departure was confirmed with the following words of the former manager, but without explaining the causes of the resignation.
Brooks said that he remains confident in Binance.US, and its commitment to bring innovative services to its customers. As one of the largest cryptocurrency exchanges in the United States of America, Binance.US seals a compromise to keep empowering the future of finance.
A Sudden Departure
The note also highlights that the transition would not affect either customers or the operation of Binance.US at all. He added that the company would keep providing the best products and services.
The news surprised many community members, considering that Brooks had taken over as head of Binance.US just over three months ago.
In April of this year, his appointment came to the public. The new executive, who was also a Coinbase executive, said he was committed to working with industry players and legislators to release an enduring regulatory framework that would allow all Americans to reap the benefits of decentralized finance.
In an interview led by Forbes, and published a few weeks ago, the executive explained he had an expansive vision for Binance.US, which went far beyond operating a cryptocurrency exchange. He also spoke about the efforts he was going to make to build greater platform independence.
Brooks served as the currency’s comptroller from May 2020 to January 2021, when Donald Trump’s term reached its end. During that time, he was interested in building a favorable regulatory environment for cryptocurrencies. He became known in the ecosystem as a part of the select group of US regulators who show their support stance about bitcoin.
Another Change in Binance Would Feed the Obstacles it Experiences in Several Countries
Binance, the exchange with the highest volume of trading worldwide, has various operational problems beyond the United States of America, particularly in European nations such as the United Kingdom, and Italy.
In early July, the exchange site went through various regulatory hurdles in at least six countries. These hurdles included Singapore, Thailand, the Cayman Islands, Japan, China, and Malaysia.
It is worth remembering that Binance.US is a platform that is part of the group, but it only operates in the United States of America. It was created in 2019 to work with that market. Binance intended to adapt to the regulations of that country, given the difficulties that arose at the regulatory level.
By: Jenson Nuñez
