Binance United States has picked a new president following the departure of its chief executive after only six months in office.
Brian Shroder, a former executive at Ant Group and Uber, will lead strategy, US’s execution, fundraising, business, and corporate growth of Binance.US. He will also oversee the company’s legal, human resources, and product and technology departments, according to the corporation.
Shroder previously served as Ant Group’s head of development and worldwide alliances, as well as supervising the company’s activities throughout Southeast Asia. Prior to that, he spent several years as Uber’s head of strategy and business development in the Asia-Pacific area.
Shroder stated that he is looking forward to “sharing our enthralling tale with the broader investor community as we embark on our path toward an initial public offering.”
IPO passes muster despite scrutiny
The US exchange shares its name with Binance Holdings, and its CEO Changpeng Zhao also serves as Binance’s chairman of the board. Zhao recently announced that Binance.US would close a round of fundraising with reputable investors.’ Additionally, he indicated that the US business, which debuted in 2019, intends to go public.
“Based on our current trajectory, I believe we could have an extremely successful IPO in the next two to three years,” Shroder forecasted. Additionally, Binance.US hopes to close its ‘first seed round by the end of the year,” he said.
Despite its ambitions, Binance Holdings has recently been subjected to intense global scrutiny. For example, it is being investigated by the US Justice Department to see whether its platform enabled money laundering or tax evasion. Several countries’ financial regulators have also launched investigations and ordered that the exchange discontinue business within their borders. The rising strain from this regulatory scrutiny prompted previous Binance.US CEO Brian Brooks to depart after only a few months on the job.
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