![]() Eleven top staff have left since July with four of them exiting last week. The US staff cuts and Shroder’s departure last week came as an exodus of staff globally from the firm gathered pace. The securities regulator raised concerns over Binance’s use of the Ceffu custody service that links to, saying it violates an earlier deal to stop Binance.US assets from commingling with those of. The SEC filed a lawsuit against it in June, alleging that it violated securities laws, while in March the US Commodity Futures Trading Commission charged Binance and CEO Changpeng Zhao with ”willful evasion of federal law.”Ĭourt filings unsealed on Thursday accused Binance.US of not cooperating with the SEC’s investigation. Parent Binance, the world’s biggest cryptocurrency exchange, has faced an almost perfect storm in the US this year. Under his leadership, raised capital, improved its product… There has been some speculation regarding recent management changes at Brian Shroder is taking a deserved break after accomplishing what he set out to do when he joined two years ago. The company is ”more resilient” as a result, he added. Zhao said that Shroder is taking a “deserved break” after accomplishing what he set out to do when he joined two years ago, listing his accomplishments as raising capital, improving products and service offerings, strengthening internal processes, and gaining significant market share. “Norman Reed – former SEC, New York Fed, Ripple, and DTCC executive – is the right person to lead.” “The crypto market is in a different place now than it was two years ago, with a rapidly evolving and increasingly hostile regulatory environment,” Zhao said. Shroder left last week as the company slashed 30% of its workforce amid lawsuits and a regulatory crackdown that is squeezing its revenues. It does not store any personal appointed a new CEO as founder Changpeng Zhao lashed out at critics for creating ”FUD” around the beleaguered company.Ĭhief legal officer Norman Reed will replace former CEO Brian Shroder, Zhao said in a tweet. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. ![]() It also signifies a big step toward Terra Luna Classic’s long-term goals, including the mission of $1 price recovery. ![]() The upgrade promises to bring flexibility to the Terra Classic network. A Big Step Toward Terra Classic (LUNC) Long-Term Goals The excitement for this upgrade can also be seen in how the validators responded, with 99.86% voting yes, 0.08% voting no, 0.04% voting no with veto, and 0.02% abstaining from voting. The community has expressed excitement over the upgrade, as shown in the recent spike in the LUNC trading volume. It promises to update users on any other announcements or changes. The exchange will reopen token deposits and withdrawals once the upgraded network is stable. Notably, spot and margin trading of LUNC and USTC on the Terra Classic (LUNC) network will continue unaffected during the upgrade.īinance also assured its users that it will manage all the technical aspects involved. To facilitate the smooth transition, the crypto exchange will temporarily halt deposits and withdrawals of Terra Classic tokens from 13:15 (UTC). Read Also: Terra Classic (LUNC) Community Takes Notable Action Against Spam Proposals: Details
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