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