• Binance, the largest cryptocurrency exchange, has appointed Noah Perlman as its new Chief Compliance Officer.
• Noah was previously C-suite executive at crypto exchange Gemini and brings with him over three years of experience.
• Binance is working to strengthen its compliance team in order to avoid any regulatory issues in light of recent scrutiny surrounding their involvement in the Paxos-BUSD dispute.
Binance Appoints New CCO
Binance, the largest cryptocurrency exchange, has appointed Noah Perlman as its new Chief Compliance Officer (CCO). Noah was previously a C-suite executive at crypto exchange Gemini and brings with him over three years of experience.
Regulatory Scrutiny
Recent scrutiny surrounding Binance’s involvement in the Paxos-BUSD dispute has prompted an expansion of their compliance team to insulate themselves from any potential regulatory issues. CEO Changpeng Zhao tweeted about this commitment back in September of 2022.
Secure Asset Fund for Users (SAFU)
In order to combat cybercrimes and ransomware threats, Binance joined the National Cyber-Forensic and Training Alliance (NCFTA) in early 2022. The exchange also launched Secure Asset Fund for Users (SAFU), which aims to protect users from market adversities.
Expansion Rate
Despite layoffs being implemented by other firms during crypto winter, Binance chose to increase their hiring campaigns with the goal of reaching 8k employees. In 2021 alone, their compliance and advisory teams grew 500%. Prior to Perlman’s appointment, Steven Christie – former Head of Compliance at Kraken – was onboarded last year as Senior Vice President.
Conclusion
Overall, it is clear that Binance is taking steps towards strengthening their empire through significant hiring initiatives and expansion of their compliance team. This shows a commitment towards staying compliant with regulations while protecting users from any potential market risks or adversities.