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 <p>Binance is losing two more senior executives as the world’s biggest crypto exchange mulls an exit from the Russia market.</p> 
 <p class="p3"><span class="s1">Gleb Kostarev, head of Eastern Europe and the Commonwealth of Independent States, shared his <span class="s2">farewell message</span> on LinkedIn today, while Vladimir Smerkis, general manager for Russia and the CIS, announced his departure in a <span class="s2">Facebook post,</span>.</span></p> 
 <p class="p3"><span class="s1">Smerkis described his two years at Binance as an “incredibly cool adventure” and expressed gratitude to his team and colleagues.</span></p> 
 <p class="p3"><span class="s1">He also promised to host a press conference in Russia within a fortnight. “I know you and the media will have tons of questions about the causes, future, thoughts and experiences,” he said. “I will definitely share everything. We will do a broadcast, or maybe a meeting in Moscow to talk to you.”</span></p> 
 <p><span class="s1">The crypto exchange’s CEO, Changpeng Zhao, <span class="s2">responded to the departures on Twitter</span>, telling people to ”Ignore FUD.“&nbsp;</span></p> 
 <p>“Some of our team members are growing into bigger roles, some outside of <span class="r-18u37iz">#Binance,“ he said. “I even made intros/references for many of them. This also creates more growth opportunities within #Binance, btw.”</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">Some of our team members are growing into bigger roles, some outside of #Binance. Some are doing new exciting ventures. I even made intros/references for many of them. We are supportive of everyone. We are one community.</p> 
  <p>This also creates more growth opportunities within…</p> 
  <p>— CZ 🔶 Binance (@cz_binance) September 6, 2023</p> 
 </blockquote> 
 <p></p> 
 <p class="p3"><span class="s1">The resignations follow a <span class="s2">series of high-profile executive departures.</span> They include the global head of product and design Mayur Kamat, chief strategy officer Patrick Hillman, former compliance head Steven Christie, general counsel Hon Ng and US-based chief business officer Yibo Ling.</span></p> 
 <p class="p3"><span class="s1">A Wall Street Journal report, citing individuals familiar with the matter, said that Helen Hai, who had been in high-ranking positions at Binance since 2018, has also left the company. </span></p> 
 <h3 class="p3" id="span-class-s1-binance-to-exit-russia-span"><span class="s1">Binance To Exit Russia?&nbsp;</span></h3> 
 <p class="p3"><span class="s1">The departures come amid reports that Binance is exiting the Russian market due to increased regulatory scrutiny related to sanctions imposed on the nation after it invaded Ukraine. </span><span class="s1">The exchange is exploring various options, including a complete withdrawal from the Russian market, the WSJ <span class="s2">reported</span></span></p> 
 <p class="p3"><span class="s1">In recent weeks, Binance limited its Russia trading service, allowing users to exchange digital tokens only for rubles.</span></p> 
 <h2 id="mounting-scrutiny-and-legal-challenges">Mounting Scrutiny and Legal Challenges</h2> 
 <p class="p3"><span class="s1">Binance has also faced significant scrutiny, including <span class="s2">legal action</span> by the US Securities and Exchange Commission (SEC). The exchange is currently being investigated by the Justice Department regarding its money-laundering controls.&nbsp;</span></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/binance-exodus-gathers-pace-as-eastern-europe-russia-executives-leave-tbt61805.html">https://thebittimes.com/binance-exodus-gathers-pace-as-eastern-europe-russia-executives-leave-tbt61805.html</a></p>

Binance Exodus Gathers Pace as Eastern Europe, Russia Executives Leave

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