Three high-level executives at Binance, namely Chief Legal Officer Han Ng, Chief Strategy Officer Patrick Hillmann, and Deputy Head of Compliance Steven Christie, have resigned after learning of CEO Changpeng Zhao’s response to the ongoing investigation by the U.S. Department of Justice targeting the platform.
Patrick Hillmann, the Chief Strategy Officer, has confirmed his resignation but stated that it was not due to any conflicts with Changpeng Zhao. On the other hand, CZ reassured the community that the departing individuals were regular employees and that the current news was merely FUD
The SEC has recently filed a lawsuit against Binance, accusing the exchange of engaging in unregistered securities trading. Additionally, Binance has been under investigation by the US Department of Justice for over a year, regarding allegations of money laundering and violations of sanctions regulations. These legal challenges have forced Binance to streamline its operations and have led to ongoing legal complications in multiple countries, including the United Kingdom, the Netherlands, Belgium, Cyprus, France, Brazil, Austria, Germany, and Australia.
The news of three high-level executives departing has had a negative impact on the price of BNB. It has decreased by over 2% in the past 24 hours.