He had been appointed to his position in December 2021, allegedly to strengthen Binance.US’ legal department in light of possible regulatory action during that time. The former Chief Risk Officer, Executive Vice President and Deputy General Counsel for Binance.US, Sidney Majalya resigned along with Juvvadi in mid-September 2023. In years prior, he had served as a trial attorney for the United States Department of Justice. Juvvadi is a prominent lawyer, and served as a senior member of the legal team at Sher Leff LLP that won a multi-million dollar lawsuit against ExxonMobile on behalf of the state of New Hampshire for statewide groundwater contamination. Before Binance, he served as global head of operations compliance for Uber, as well as their chief regulatory counsel. arm, Juvvadi was one of many legal experts to join the company last year, signing on in May 2022. Although reasons remain unclear, his departure took place not long after the SEC’s legal actions against Binance and its CEO, CZ, for allegedly breaking U.S. Head of Legal for Binance.US, Juvvadi resigned from the company mid-September 2023, the same week as Shroder. Interestingly, his Linkedin profile says that he still holds his position at Binance.US. His entry came a month after former Binance.US CEO Brian Brooks abruptly quit after three months on the job. Showcasing a Harvard MBA, he was initially tasked with taking the company public, a direction that hit a wall due to the aforementioned lawsuit. securities laws.Ī veteran executive, Shroder took the C-level spot after overseeing operations in Asia for Uber and Chinese fintech giant, Ant Group. branch, with an estimated 30% of employees terminated–not long after the SEC accused the company of breaking U.S. His departure was marked by widespread layoffs across the company’s U.S. His exit, which according to his Linkedin profile took place in September 2023, comes amid an announcement last week by the company that they will pause onboarding British clients, after a stringent set of crypto advertising rules by the Financial Conduct Authority (FCA) went into effect.įormer CEO of Binance.US, Shroder resigned from the company mid-September 2023, after taking up the role in September 2021. He took his role at Binance in May 2021, after a five-year stint as Director of Compliance and board member for the financial trading company, eToro.Ĭoncurrent to his position at Binance, Farnell served as CEO of their fiat-to-crypto payments provider Bifinity, which saw its windows shutter in mid-August. The dynamic entrepreneur said that his business would only be forced to post extra collateral if Bitcoin dropped to a price of $3,500 or below.The freshest departure is Head of Binance UK and former CEO of their payment service Bifinity, Jonathan Farnell. Despite this, Saylor assured investors that a margin call was not imminent, brushing aside concerns about the emergence of another black swan. Bitcoin purchases were funded in March through a loan obtained from Silvergate. The 129,698 coins owned by the Virginia-based firm are now worth $2.6 billion at today’s exchange rates. Bitcoin has been down 3.70% in the last 24 hours. According to CMC, the Bitcoin price today is $19,369.60 USD with a 24-hour trading volume of $23,351,589,622 USD. CZ □ Binance June 29, 2022Ĭonsidering the business intelligence organization is resting on significant losses of over $1 billion, the brave acquisition was welcomed with contempt. Many may laugh at him now, but Saylor will get the last laugh in time.īookmark this tweet.
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