Binance US CEO departs as crypto company cuts third of its workforce

The CEO of Binance’s US affiliate has departed the crypto trading platform amid another round of job cuts.

Binance US CEO Brian Shroder is no longer with the company, a spokesperson confirmed to The Associated Press Wednesday.

The cryptocurrency exchange did not specify when or why Shroder departed, but said that chief legal officer Norman Reed is now serving as interim CEO.

Shroder joined the Binance.US as president in September 2021 and was named CEO the following month.

Shroder’s departure coincides with the elimination of about one-third of Binance.US’s workforce, with layoffs impacting more than 100 employees.