Apart from the departure of another of its execs, CEO Brian Shroder, Binance.US slashed one-third of its staff, stressing that the move will give it over seven years of financial runway.
Binance remains a key conduit for Russian entities looking to convert rubles into digital assets that can then be exchanged for mainstream fiat currencies, according to a Wall Street Journal report.
Wall Street Journal recently reported on internal communications that poke larger holes in Binance’s repeated assertions that the Binance.US exchange is an independent entity.
Over 2,000 investors have signed up for the lawsuit, which accuses Binance of employing a market strategy of misleading as many investors as quickly as possible.
