HomeBusinessBinance world head of product Mayur Kamat resigns | The Global Today

Binance world head of product Mayur Kamat resigns | The Global Today

(Reuters) -Binance’s world head of product, Mayur Kamat, has resigned amid a string of government exits and job cuts on the cryptocurrency change, a spokesperson for the corporate informed Reuters on Monday.

Kamat’s exit follows a latest government exodus from Binance that features Chief Technique Officer Patrick Hillmann and Common Counsel Hon Ng.

The cryptocurrency change has currently been below heavy regulatory scrutiny in the US, the place regulators aggressively clamp down on what they deem are unlawful actions.

The Securities and Trade Fee (SEC) sued Binance and CEO Changpeng Zhao in June for allegedly working a “internet of deception,” itemizing 13 expenses, together with claims the corporate artificially inflated its buying and selling volumes, diverted buyer funds and failed to limit U.S. clients from its platform.

Binance has stated it will defend itself vigorously.

The corporate additionally laid off various staff in July.

(Reporting by Akanksha Khushi in Bengaluru; Enhancing by Eileen Soreng and Dhanya Ann Thoppil)

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