{"id":318110,"date":"2021-08-07T19:37:44","date_gmt":"2021-08-07T16:37:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-community-in-shock-over-brian-brooks-resignation-from-binance-us\/"},"modified":"2021-08-07T19:37:44","modified_gmt":"2021-08-07T16:37:44","slug":"crypto-community-in-shock-over-brian-brooks-resignation-from-binance-us","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-community-in-shock-over-brian-brooks-resignation-from-binance-us\/","title":{"rendered":"# Crypto community in shock over Brian Brooks\u2019 resignation from Binance.US"},"content":{"rendered":"<p>&#8220;<strong># Crypto community in shock over Brian Brooks\u2019 resignation from Binance.US  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvNWM2NjQ2NTYtY2JhMi00NmIzLTk4MGQtNWE1MTgwNDkxYzcyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>After serving as the chief executive officer of major cryptocurrency exchange Binance.US for less than four months, Brian Brooks announced Friday he would be stepping down \u2014 a move that was greeted with confusion and suspicion from the crypto community.\u00a0<\/p>\n<p>Citing \u201cdifferences over strategic direction,\u201d the now-former CEO <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BrianBrooksUS\/status\/1423727097323802626\">said<\/a> he had already resigned his position at Binance\u2019s U.S. arm. Brooks had been leading the crypto exchange since replacing former CEO Catherine Coley on May 1.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Greetings <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a> community.  Letting you all know that I have resigned as CEO of \u2066\u2066\u2066<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BinanceUS?ref_src=twsrc%5Etfw\">@BinanceUS<\/a>\u2069 .  Despite differences over strategic direction, I wish my former colleagues much success.  Exciting new things to come!<\/p>\n<p>\u2014 Brian Brooks (@BrianBrooksUS) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BrianBrooksUS\/status\/1423727097323802626?ref_src=twsrc%5Etfw\">August 6, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Changpeng Zhao, the CEO of Binance \u2014 a separate entity from its U.S. arm \u2014 said Brooks stepping down would not \u201cimpact Binance.US customers in any way.\u201d He explained:<\/p>\n<blockquote><p>\u201cI remain confident in Binance.US&#8217;s business and its commitment to serve its customers and innovate [&#8230;] As one of the largest cryptocurrency exchanges in the United States, Binance.US is poised to continue to grow and empower the future of finance.\u201d<\/p><\/blockquote>\n<p>However, members of the outspoken crypto community <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/IvanOnTech\/status\/1423746337024139271\">speculated<\/a> that Brooks\u2019 decision to leave the firm was based on internal knowledge about issues surrounding the global Binance exchange, possibly from regulators or other market forces.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Brian Brooks knows something big   <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/lLhErXNBw4\">https:\/\/t.co\/lLhErXNBw4<\/a><\/p>\n<p>\u2014 Ivan on Tech &#8211; Made with Moralis \u200d (@IvanOnTech) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/IvanOnTech\/status\/1423746337024139271?ref_src=twsrc%5Etfw\">August 6, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Others <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoWhale\/status\/1423730928027897859\">connected<\/a> the timing of his departure to the regulatory backlash facing Binance, which has prompted the exchange to roll back or even cease operations in certain regions. Regulators in Japan, the United Kingdom, Germany and Canada have recently issued orders or warnings against Binance for various reasons.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: Binance US CEO Brian Brooks announces his resignation after just a few short months amid ongoing scrutiny from dozens of regulators, and agencies. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/00KbVka0sr\">pic.twitter.com\/00KbVka0sr<\/a><\/p>\n<p>\u2014 CryptoWhale (@CryptoWhale) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoWhale\/status\/1423730928027897859?ref_src=twsrc%5Etfw\">August 6, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Binance has faced scrutiny even in the United States, with the Department of Justice and Internal Revenue Service investigating the firm for alleged illegal trading activity. The exchange is reportedly the subject of an investigation by the Commodity Futures Trading Commission regarding alleged trades by U.S. customers.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Binance faces regulatory upheaval as lawmakers target \u2018global\u2019 exchanges<\/em><\/strong><\/p>\n<p>Others <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AlanStacked\/status\/1423737793491226624\">speculated<\/a> that Brooks\u2019 departure may have been connected with his belief that the crypto exchange business is not profitable in the long run. Those comments were made in an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/sites\/stevenehrlich\/2021\/08\/06\/bitcoin-exchange-binanceus-ceo-brian-brooks-suddenly-resigns-after-only-four-months\/?sh=4270e9186500\">interview<\/a> with Forbes weeks before his resignation.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Ex-Binance US CEO Brian Brooks: \u201cAn exchange is not a profitable long term business.\u201d<\/p>\n<p>SBF: \u201c\u2026.?\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/xsd9kAJNDz\">pic.twitter.com\/xsd9kAJNDz<\/a><\/p>\n<p>\u2014 Alan (@AlanStacked) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AlanStacked\/status\/1423737793491226624?ref_src=twsrc%5Etfw\">August 6, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> takeaway from that interview, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/eltrade\/status\/1424030459965624328\">according<\/a> to Forbes writer Javier Paz, was the \u201cinevitable clash of direction\u201d at Binance.US, likely between Brooks and the board of directors. According to one <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/EnableConsensus\/status\/1423729963744874496\">user<\/a>, \u201cIt must be awful working against your moral compass.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The exclusive interview that Brian Brooks gave my colleague <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Steven_Ehrlich?ref_src=twsrc%5Etfw\">@Steven_Ehrlich<\/a>  a few days ago unveiled an inevitable clash of direction for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BinanceUS?ref_src=twsrc%5Etfw\">@BinanceUS<\/a>. The story here quoted by the illustrious <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FT?ref_src=twsrc%5Etfw\">@FT<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Qv9hBuuvG5\">https:\/\/t.co\/Qv9hBuuvG5<\/a><\/p>\n<p>\u2014 Javier Paz (@eltrade) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/eltrade\/status\/1424030459965624328?ref_src=twsrc%5Etfw\">August 7, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Not surprised. It must be awful working against your moral compass. You deserve better. Maybe it\u2019s time to start your own crypto business and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ly your integrity to the fullest.  Wish you all the best in your future endeavours.<\/p>\n<p>\u2014 CONSENSUS (@EnableConsensus) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/EnableConsensus\/status\/1423729963744874496?ref_src=twsrc%5Etfw\">August 6, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Some users <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Blockworks_\/status\/1423744472681172995\">reminded<\/a> that Brooks\u2019 desire to pursue a \u201cstrong compliance program\u201d had the full backing of the board just a few months ago:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Brian Brooks in May:<\/p>\n<p>\u201cI wouldn\u2019t have taken this job if I didn\u2019t have a strong commitment from the board to lead a strong compliance program\u201d<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/kL7xy6HK8B\">https:\/\/t.co\/kL7xy6HK8B<\/a><\/p>\n<p>\u2014 Blockworks (@Blockworks_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Blockworks_\/status\/1423744472681172995?ref_src=twsrc%5Etfw\">August 6, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Dxron2\/status\/1424022626872274945\">general<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tonikant\/status\/1423988620604620804\">mood<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Investingcom\/status\/1423776942411616256\">on<\/a> Crypto Twitter was that the resignation was \u201cvery strange,\u201d especially given all the excitement surrounding Brooks\u2019 hiring just a few months earlier.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Very strange\u2026 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/dzoWctdyS9\">https:\/\/t.co\/dzoWctdyS9<\/a><\/p>\n<p>\u2014 antonio cantalapiedra asensio (@tonikant) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tonikant\/status\/1423988620604620804?ref_src=twsrc%5Etfw\">August 7, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Something isn\u2019t right at binance <\/p>\n<p>Cathrine Coley doesn\u2019t even tweet anymore at all.<\/p>\n<p>Brian brooks rolled out <\/p>\n<p>They blocked me.<\/p>\n<p>Yeah..Rug Pull in coming.<\/p>\n<p>\u2014 Dxron &#8211; I Steal Whale Money. (@Dxron2) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Dxron2\/status\/1424022626872274945?ref_src=twsrc%5Etfw\">August 7, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\">#Binance<\/a> U.S. CEO Brian Brooks resigns!\u274c<\/p>\n<p>Read NOW!  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/3Drrbn2YXa\">https:\/\/t.co\/3Drrbn2YXa<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/JtbIHenjf8\">pic.twitter.com\/JtbIHenjf8<\/a><\/p>\n<p>\u2014 Investing.com (@Investingcom) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Investingcom\/status\/1423776942411616256?ref_src=twsrc%5Etfw\">August 6, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>At the time of writing, Brooks has yet to disclose his career plans. Before joining Binance.US, he served in several high-profile roles at Coinbase and the United States Office of the Comptroller of the Currency.\u00a0<\/p>\n<p><strong><em>Related: Binance to restrict derivatives trading for Hong Kong users<\/em><\/strong><\/p>\n<p><em>With additional reporting from Turner Wright.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/crypto-community-in-shock-over-brian-brooks-resignation-from-binance-us\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Crypto community in shock over Brian Brooks\u2019 resignation from Binance.US &#8221; After serving as the chief executive officer of major cryptocurrency exchange Binance.US for less than four months, Brian Brooks announced Friday he would be stepping down \u2014 a move that was greeted with confusion and suspicion from the crypto community.\u00a0 Citing \u201cdifferences over&#8230;<\/p>\n","protected":false},"author":1,"featured_media":318111,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvNWM2NjQ2NTYtY2JhMi00NmIzLTk4MGQtNWE1MTgwNDkxYzcyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74858,99561,74860,117,67874],"class_list":["post-318110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-bitcoin-regulation","tag-brian-brooks","tag-cryptocurrency-exchange","tag-business","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/318110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=318110"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/318110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/318111"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=318110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=318110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=318110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}