{"id":47982,"date":"2021-08-20T10:36:35","date_gmt":"2021-08-20T07:36:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47982"},"modified":"2025-09-02T00:00:47","modified_gmt":"2025-09-01T21:00:47","slug":"media-brian-brooks-leaves-binance-us-amid-clash-with-changpeng-zhao","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-brian-brooks-leaves-binance-us-amid-clash-with-changpeng-zhao\/","title":{"rendered":"Media: Brian Brooks leaves Binance US amid clash with Changpeng Zhao"},"content":{"rendered":"<p>Brian Brooks has left his post as head of Binance&#8217;s U.S. unit amid a clash with the exchange&#8217;s founder Changpeng Zhao, according to <a href=\\\"https:\/\/nymag.com\/intelligencer\/2021\/08\/the-worlds-largest-crypto-exchange-keeps-losing-ceos.html?utm_medium=s1&#038;utm_source=tw&#038;utm_campaign=di\\\">New York Magazine<\/a> and <a href=\\\"https:\/\/www.nytimes.com\/2021\/08\/19\/business\/binance-cryptocurrency-exchange-ipo.html\\\">New York Times<\/a>.<\/p>\n<p>Previously Brooks held a leadership post at Coinbase, and in 2020 he headed the Office of the Comptroller of the Currency within the U.S. Treasury. In January he <a href=\"https:\/\/u1f987.com\/en\/news\/brian-brooks-resigns-as-head-of-the-occ-blake-paulson-to-become-acting-comptroller-of-the-currency\">left the agency<\/a>, later <a href=\"https:\/\/u1f987.com\/en\/news\/brian-brooks-joins-board-of-spring-labs-startup\">an independent member of the board of directors<\/a> of the Spring Labs startup.<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/brian-brooks-to-lead-binance-us-unit\">Brooks joined Binance in May<\/a>. The parties expected that his experience would lend legitimacy to the exchange&#8217;s operations in the United States.<\/p>\n<p>According to the publications, he pursued a multi-pronged strategy to distance Binance US from its parent company. The plan envisaged:<\/p>\n<ul class=\"wp-block-list\">\n<li>appointment of independent directors to Binance US&#8217;s board;<\/li>\n<li>raising $100 million in capital to ensure the unit&#8217;s financial autonomy;<\/li>\n<li>transferring Binance technology to servers located in the United States.<\/li>\n<\/ul>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe transfer was the final piece of the puzzle, which, Brooks believed, would leave Binance&#8217;s regulatory issues in the past. But in the early days of August Zhao abruptly halted everything. The strategy was rejected, Brooks did not see a way to resolve the regulatory issues facing the company and could no longer work there. Therefore, on August 6 he <a href=\"https:\/\/u1f987.com\/en\/news\/brian-brooks-resigns-as-binance-us-chief-executive-after-three-months\">announced his resignation<\/a>,\u201d<\/p>\n<\/blockquote>\n<p>\u2014 said a New York Magazine source.<\/p>\n<p>New York Times presents a somewhat different version of events. The paper says Brooks decided to resign after GreatPoint Ventures, regarded as a key participant in the planned investor round, declined to participate because regulators&#8217; concerns about Binance were cited by the paper. Partly, the paper notes, Zhao&#8217;s 90% stake in Binance US influenced the decision.<\/p>\n<p>As regulators in recent months have emerged in several jurisdictions, including <a href=\"https:\/\/u1f987.com\/en\/news\/cayman-islands-regulator-launches-probe-into-binance\">the Cayman Islands<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/thailand-accuses-binance-of-operating-without-a-license\">Thailand<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/uk-regulator-bans-binance-from-operating-in-the-country\">the United Kingdom<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/japanese-regulator-issues-another-warning-to-binance\">Japan<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/polish-regulator-urges-caution-in-using-binance-services\">Poland<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/italy-and-malta-warn-consumers-about-unregulated-binance-activity\">Italy, Malta<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-regulator-warns-binance-group-entities-are-operating-without-a-licence\">Hong Kong<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/malaysia-announces-enforcement-actions-against-binance\">Malaysia<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/dutch-central-bank-says-binance-is-not-registered\">the Netherlands<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brian Brooks left his post as head of Binance&#8217;s U.S. unit amid a clash with the exchange&#8217;s founder Changpeng Zhao, according to New York Magazine and The New York Times.<\/p>\n","protected":false},"author":1,"featured_media":47983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,935,26],"class_list":["post-47982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-changpeng-zhao","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=47982"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47982\/revisions"}],"predecessor-version":[{"id":47984,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47982\/revisions\/47984"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/47983"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=47982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=47982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=47982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}