Cryptocurrency alternate Binance continues to lose a few of its key executives amid rising scrutiny of the platform from regulators around the globe.
Binance’s head of product Mayur Kamat has confirmed he’s leaving the crypto alternate after serving the agency for practically two years.
“It’s time for me to step down and transition product management to Binance’s subsequent gen leaders. I’ve labored carefully with product leads to make sure a seamless transition,” Kamat instructed Cointelegraph on Sept. 4.
Kamat additionally mentioned that it’s a good time for him personally to take a while off after 20 years of “continuous product work.” He added:
“It has been an expertise of a lifetime working at Binance and seeing our consumer base develop. Due to [Changpeng Zhao] CZ and the complete management group for this superb alternative. I can be cheering Binance from the sidelines.”
Previously a product supervisor at corporations like Google and Agoda, Kamat joined Binance as head of product in January 2022. In keeping with his LinkedIn profile, the exec was heading international product and design groups at Binance, serving to develop Binance from 80 million to greater than 150 million customers in 18 months.
The previous Binance product lead is called an early adopter of Bitcoin (BTC). He reportedly purchased his first two bitcoins again in 2011, simply two years after the cryptocurrency was launched. Kamat mentioned that it wasn’t for funding functions although, however somewhat to buy a VPN connection.
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The most recent resignation at Binance comes a couple of weeks after the alternate was hit by a large exodus of key executives, together with Binance’s chief technique officer Patrick Hillmann. Whereas the exec cited private causes for his departure, many cryptocurrency observers suspected that the departure had one thing to do with Binance’s investigation by the US’ Division of Justice.
Amongst different departures, basic counsel Han Ng and senior vice chairman for compliance Steven Christie had been additionally reported to have left Binance in early July.
Further reporting by Cointelegraph journalist Prashant Jha.
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