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Newly appointed Binance US Chief Executive Officer (CEO) <a href="https://coingape.com/xrp-new-binance-ceo-norman-reed/" rel="noopener noreferrer nofollow">Norman Reed is rumored to have a connection with Ripple Labs</a>. 
This relationship is said to have a long history, dating as far back as 2015. Noteworthy, Reed had previously worked with the United States Securities and Exchange Commission (SEC) as well as the Federal Reserve Bank of New York.&nbsp;
<h2 id="b-reed-was-ripple-s-general-counsel-b">Reed Was Ripple’s General Counsel</h2>
At another time, he held a key position in Ripple’s legal team. A content platform for legal practitioners known as Today’s General Counsel noted that Reed was appointed by Ripple on February 25, 2015. John E. Deaton, CryptoLaw founder and pro-XRP lawyer who is representing XRP token holders in the lawsuit between Ripple and SEC, <a href="https://twitter.com/JohnEDeaton1/status/1703160345089495308" rel="noopener noreferrer nofollow">confirmed that Reed was the General Counsel </a>of the fintech firm.&nbsp;
“Norman Reed used to be the General Counsel of Ripple. His signature is on the 2015 FinCEN DOJ settlement with Ripple, which classified XRP as a “convertible virtual currency.” Deaton posted on the X app.
<h2 id="b-binance-us-ceo-departs-from-exchange-b">Binance US CEO Departs From Exchange&nbsp;</h2>
<a href="https://thecoinrise.com/binance-us-lays-off-a-third-of-its-workforce/" rel="noopener noreferrer nofollow">Binance US downsized almost a third of its workforce</a> a few days back and it was discovered that Brian Shroder, its CEO left the exchange almost at the same time. Its decision to decrease its headcount was attributed to Binance’s plan to provide the platform “more than seven years of financial runway” as it transitioned to being a cryptocurrency-only exchange.&nbsp;
It was immediately announced that Reed, who is the current Chief Legal Officer, would take over from him. 
He was singled out as the best man for the job, especially owing to his history and experience with the SEC and the exchange’s recent troubles with the regulator. Binance is currently faced with regulatory challenges from several agencies in the U.S. In June, the <a href="https://thecoinrise.com/sec-sues-crypto-exchange-binance-and-ceo-zhao/" rel="noopener noreferrer nofollow">SEC charged Binance for violating securities laws</a>.
<h2 id="b-zhao-allays-users-fears-about-management-exodus-b">Zhao Allays Users Fears About Management Exodus</h2>
It was worth noting that Shroder’s exit from Binance US has raised some concerns amongst netizens. Some have become jittery about Binance operations, fear, uncertainty and doubt (FUD) has gradually crept in. However, Binance general CEO <a href="https://thecoinrise.com/binance-ceo-addresses-fud-surrounding-brian-shroders-exit/" rel="noopener noreferrer nofollow">Changpeng ‘CZ’ Zhao has asked users to ignore the FUD.</a>&nbsp;&nbsp;
He claimed that Shroder was departing the company without having any issues after completing what he “set out to do when he joined two years ago.”
The post <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com/binance-u-s-new-ceo-norman-reed-has-history-with-ripple-xrp/">Binance U.S New CEO Norman Reed Has History With Ripple XRP</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Binance U.S New CEO Norman Reed Has History With Ripple XRP

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