Binance US CEO Brian Schroder has left the crypto trading platform and been replaced on an interim basis by Chief Legal Officer Norman Reed, a company spokesperson said.
The departure comes as the company is conducting a second round of layoffs, cutting about a third of its staff, or more than 100 positions, as regulatory crackdown undermines its business.
Binance Holdings has been shedding executives and other employees in recent months as well. This month, two executives overseeing regions including Eastern Europe and Russia left. In August, Binance lost its Asia-Pacific’s head and in July, a slew of executives including its chief strategy officer.