Regulatory
issues around the world have led to the departure of several key executives
from Binance, increasing the number to five. Mayur Kamat, the Global Product
Lead, has stepped down after more than a year with the company. Exchange’s
growing regulatory challenges may be the main reason for the talent drain.
Binance Loses Two More
Employees Over the Weekend
The
cryptocurrency exchange Binance confirmed in a statement that Kamat, who joined
the exchange in April 2022, has resigned from his role as product lead.
“We
are grateful to him for helping guide Binance through some of our most
explosive growth and we wish him the very best,” a spokesperson for the
exchange was quoted by CoinDesk.
JUST IN: Binance global head of product Mayur Kamat resigns amid executive exodus 👀 pic.twitter.com/yl4a9HH2a5
— Bitcoin News (@BitcoinNewsCom) September 4, 2023
It turns
out Kamat is not the only executive Binance lost this weekend. Earlier reports
published on Friday revealed that Leon Foong, who oversaw operations in the
Asia-Pacific region, also decided to leave the platform. Foong was responsible
for the company’s growth in Japan, South Korea, and Thailand.
Binance has
also seen other departures recently. The exchange bid farewell to three…
