Binance CEO Changpeng Zhao denied a Fortune report claiming that several senior executives resigned from the company this week, including General Counsel Han Ng, Chief Strategy Officer Patrick Hillmann and Senior Vice President of Compliance Steven Christie.
In a series of tweets, Zhao said the news was “FUD” (fear, uncertainty and doubt) and the only person to resign this week was Hillmann, who confirmed on Twitter that he had left. He added that the reasons given for the resignations were “completely false” in the report.
Fortune cited CZ's response to the US Department of Justice as the reason for the resignations.
Zhao lauded his team, which has transformed the company from 30 to 8,000 people in six years, and from scratch to the world's largest cryptocurrency exchange in less than five months since its founding. He said that Binance has always protected its users and is “extremely lucky” to have some of the best talent in the world.
4. More FUD about some departures. Yes, there is turnover (at every company). But the reasons dreamed up by the “news” are completely wrong.
As an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world’s largest crypto exchange in less than 5 months…
— CZ 🔶 Binance (@cz_binance) July 6, 2023
He acknowledged that there is a staff turnover in every company, especially as the crypto market and global environment, as well as the personal circumstances of employees, change.
He also congratulated the current team members on their new assignments and said they are “really high caliber”.
Criticizing Fortune, CZ re-emphasized in another Tweet that only one executive has resigned this week, not a large number of executives.
*Not investment advice.
