Binance’s Latest Departure: Counter-Terrorism Executive Leaves Troubled Crypto Exchange

Binance's Latest Departure: Counter-Terrorism Executive Leaves Troubled Crypto Exchange

Jennifer Hicks Leaves Binance After Almost Two Years

Jennifer Hicks, a senior Binance counter-terrorism official, is the latest high-ranking official to depart from the world’s largest digital currency exchange. Her LinkedIn profile indicates that she left Binance after nearly two years with the company. Prior to her role at Binance, Hicks worked as an investigative specialist at Chainalysis and for the United States Navy.

Binance Faces Growing Staff Exodus

Hicks is part of a growing wave of departures from Binance, as the exchange has seen a whole lot of increase in staff leaving over recent months. Binance. United States, the exchange’s United States arm, has likewise reduced its workforce by a third in the present year.

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The company is wrestling with regulatory scrutiny in numerous countries, including the  United States where the SEC filed a lawsuit in June for alleged securities law violations. In addition, the United States Commodity Futures Trading Commission charged Binance and CEO Changpeng Zhao with “willful evasion of federal law” earlier this year.

Recent court filings have accused Binance. United States of not cooperating with the SEC’s investigation as well.

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Lawmakers Turn Attention to Binance

Hicks’ departure occurs amid heightened attention on cryptocurrency’s engagement in funding terrorism following an attack on Israel by the militant group Hamas. Two United States senators was known on the United States Department of Justice to take “swift action” against Binance for allegedly assisting Hamas.

Senator Cynthia Lummis and Arkansas representative French Hill urged the DoJ to conclude its investigation into Binance and cause a charging decision based on the exchange’s level of culpability in illicit activities.

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Hot Take

The worldwide exodus of staff from Binance, including high-ranking officials, reflects the whole lot of challenges the exchange is as of now facing, including regulatory scrutiny and probable engagement in illicit activities. The departure of Jennifer Hicks, a senior counter-terrorism official, adds to the growing list of departures and raises further questions about Binance’s operations amidst increased scrutiny.

Author – Contributor at | Website

Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.

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