Brian Brooks, the chief executive officer (CEO) of global cryptocurrency exchange Binance, has resigned after just four months in the top job.
Brooks announced over the weekend that he is leaving Binance due to “differences over strategic direction” between him and his colleagues.
Founded in 2017 and based in the Cayman Islands, Binance is currently the largest cryptocurrency exchange in the world in terms of daily trading volume. The exchange provides a platform for trading various cryptocurrencies, including Bitcoin and Ethereum.
Before joining the U.S. arm of the Binance, Brooks led the U.S. Office of the Comptroller of the Currency (OCC), the regulator for national banks in America, under U.S. President Donald Trump.
Brooks’ hiring was part of a strategy by Binance to improve the exchange’s standing by hiring well-regarded former regulators from around the world.
Brooks’ abrupt departure, along with last month’s similarly unexpected departure of the director of Binance’s operation in Brazil after only six months, is bound to raise questions as regulators scrutinize cryptocurrencies and the exchanges they trade on.
In recent months, multiple countries including the United Kingdom and Japan have taken regulatory action against Binance.
Following news of Brooks departure, Binance did not immediately name a successor, even on an interim basis.
During his time as acting Comptroller of the Currency, Brooks pursued a cryptocurrency friendly agenda and met often with members of the digital asset industry – from corporate CEOs to entrepreneurs from the decentralized finance (DeFi) sector.
