Binance faces leadership exodus amid regulatory crackdown ...



A spate of high-profile departures

Gleb Kostarev, who was the regional head for Eastern Europe, the Commonwealth of Independent States (CIS), Turkey, Australia, and New Zealand, and Vladimir Smerkis, the general manager for the CIS region, announced their exits on social media platforms. 

In the recent announcement, none of the Binance executives provided clear reasons for their resignations. However, Smerkis assured that he would discuss the details of their departure, future plans, and experiences at a forthcoming meeting in Moscow, either online or offline, in the next few weeks.

They join a growing list of senior executives who have left Binance in the past three months, including Helen Hai, who most recently managed Binance’s global fiat business.

Binance CEO Changpeng Zhao acknowledged the departures on social media, stating, “Some of our team members are growing into bigger roles, some outside of Binance. Some are doing new exciting ventures.” The departures add to the challenges facing Zhao, who is currently embroiled in lawsuits from the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission.


Regulatory woes and internal reorganization

Binance has been under the regulatory microscope for much of this year. The company has faced a series of compliance issues, including lawsuits and investigations over money-laundering controls. The exchange had also considered exiting its Russia business and ceased customer payments through sanctioned Russian banks. This follows a Wall Street Journal report detailing how Binance facilitated the movement of money abroad for Russians, adding to its legal woes in the U.S.

The internal reorganization and departures come at a time when Binance is attempting to pivot towards compliance. Founded in 2017, the exchange operated for years without licenses and without an official home base. As regulatory scrutiny intensified, Binance announced plans to become compliant but continued to take risks, according to industry insiders.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.


Source : [Binance faces leadership exodus amid regulatory crackdown ...]( undefined - Cryptopolitan / September 06, 2023 logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.