Cryptocurrency exchange Binance has lost its top manager amid problems with regulators. The platform’s global head of product and design Mayur Kamath has resigned, The Block reports, citing its own sources. Kamath confirmed his departure, saying he was leaving Binance “for personal reasons.”
Material The Block
What else is known. A Binance spokesperson said that the company’s team is “grateful to Kamat for his help during the period of the most rapid growth and wishes him all the best.” The ex-employee of the exchange, in turn, noted that “the time has come to leave the post and pass the leadership of products to the leaders of the new generation of Binance.”
Kamat talked about working closely with the heads of departments for a smooth transition. He emphasized that “it’s also a good moment for him personally to take some time off after 20 years of continuous product work.” According
Kamat joined Binance in April 2022 after working at companies such as Google (NASDAQ:GOOGL), Microsoft (NASDAQ:MSFT) and Agoda. He helped the platform grow from 80 million to more than 150 million users in 18 months by launching several products, according to his LinkedIn profile.
Bloomberg previously reported that Binance’s chief strategist Patrick Hillman, senior vice president of compliance Stephen Christie and general counsel Hong Ng have left Binance since June. Binance CEO Changpeng Zhao commented on the departure of top executives, calling it staff turnover standard for all companies.
CoinGape also reported that key Binance executives responsible for expanding operations in Europe have already left or are about to leave the exchange amid serious legal complications caused by global regulators.