Binance.US names Brian Shroder as President as firm struggles with compliance

Rick Steves

The new Binance.US President, Brian Shroder, stated that the exchange has established itself as “regulatory compliant” as well as profitable.

The US operation of cryptocurrency exchange Binance has appointed Brian Shroder as President in a time turbulent time for the operator amid a regulatory crackdown on the firm’s several entities.

Brian Schroder, a former Ant Group and Uber executive, will oversee the company’s strategy and execution, fundraising, business and corporate development as well as manage the firm’s Legal, HR, and product and technology functions.

Mr. Schroder is also replacing Brian Brooks, who quit in August after just four months in the job. Mr. Brooks cited “differences over strategic direction” as the reason for his sudden leave.

Brian Brooks had been the Chief Legal Officer at Coinbase prior to joining Binance.US. The exchange planned to use his compliance experience and contacts within the US regulatory framework to help it to score some points with the US regulators.

Binance is currently being probed by the Department of Justice, Commodity Futures Trading Commission, and the tax authorities in the US, among others.

You want to launch a Crypto Brokerage or Exchange? Here’s how!

Mr. Brooks’s alleged “differences over strategic direction” were seen as a huge blow for Binance as it struggles to earn the regulators’ trust.

The new Binance.US President, Brian Shroder, stated that the exchange has established itself as “regulatory compliant” as well as profitable.

“In under two years, Binance.US has established itself as a regulatory compliant, profitable enterprise that serves millions of customers across the country. Having previously worked for several hyper-growth companies, it is clear to me that Binance.US has all the right ingredients to become the largest and most successful cryptocurrency and digital asset exchange in the United States.

“I look forward to working with the team to further build a customer-centric organization that leads through our superior technology and our focus on providing innovative products and services. Furthermore, I look forward to sharing our exciting story with the broader investment community as we begin our journey towards IPO”, he said.

Brian Shroder led go-to-market strategies for several prestigious and global companies, including Ant Group, where expanded the company’s operations and global partnerships and oversaw the firm’s South East Asia operations, which today accounts for over 100 million active users.

Prior to Ant Group, Brian served as Head of Strategy and Business Development for Uber in their Asia-Pacific region for three years.

  • Read this next

    Podcasts, Women of the Industry

    FF Podcast delves into the rise of prop trading as Brokeree releases Prop Pulse

    In the latest FinanceFeeds Podcast, Tatiana Pilipenko discusses Prop Pulse, Brokeree Solutions’ platform for prop firms and retail brokers aiming to delve into prop trading. Offering a flat fee structure, Prop Pulse emerges as a scalable solution in an era where successful traders increasingly prefer prop firms over traditional retail brokers.

    Inside View

    Scalping or day trading?

    Among the many popular trading styles with both beginners and experienced traders are scalping, which allows you to extract small portions of profit from each price movement, and day trading, which aims to trade over a single day. In this article, you will learn what scalping and day trading are and their differences and peculiarities. Ultimately, you will learn what to look for to understand which trading style is right for you.

    Crypto Insider

    Unveiling Plasma Next: INTMAX’s Solution to Scale Ethereum with Stateless Layer

     INTMAX has launched Plasma Next on the mainnet α, a groundbreaking Layer 2 zkRollup, revealed by co-founder Leona Hioki at ETH Denver. This innovation offers scalability with constant costs per block, merging Plasma’s scalability goals with zkRollups’ security.

    Fintech

    Nuam selects Vermiculus for clearing system in Chile, Colombia, and Peru

    “We are proud to deliver a system that plays an integral role in the core of this historical merger, empowering one of Latin America’s most crucial markets with VeriClear’s state-of-the-art technology, together with our deep market expertise.”

    Retail FX

    Moomoo launches super app in Malaysia

    “As an investment platform connecting 21 million retail investors globally, we envision collaborating with exchanges, regulatory bodies, and partners in the visible future to become the gateway, connecting Malaysia’s investment products to global capital and investors.”

    Executive Moves

    FXPA elects Joe Hoffman as new Chair in its 10th anniversary

    “The opportunity to serve as Chair of the FXPA is truly an honor, and I am committed to upholding the exceptional work of a FXPA. Given the recent market fluctuations due to global tensions, inflationary pressures, shifts in monetary policy, as well as the outcome of the US election and the risk of recession, brings the potential for more FX volatility in 2024. I am dedicated to expanding the FXPA’s membership and I’m excited about collaborating with all members to echo the unified voice of the FX market.”

    Market News

    Eurozone Fights Stagnation Whilst Stock Indices Rally

    European stock markets are defying economic gloom as they continue to soar to all-time highs, showcasing resilience amidst broader economic challenges.

    Web3

    Lisk Partners with Indonesia’s Communications Ministry to Boost Web3 Startup Ecosystem

    Discover the strategic partnership between Lisk and the Indonesian Ministry of Communications and Informatics, aimed at propelling local Web3 startups to new heights through comprehensive support and education.

    Executive Moves

    Admirals appoints founder Alexander Tsikhilov as CEO

    “Striking the right balance between sourcing new talent and developing and harnessing the strength and capabilities of our current workforce, is key to achieving our vision.”

    <