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Saulius Galatiltis, CEO of a Binance crypto-to-fiat payment affiliate, has stepped down in an ongoing exodus of executives from the digital asset titan.
Galatiltis served as Bifinity’s chief executive from January 2022 to October 2023, per his <a href="https://www.linkedin.com/in/sauliusgalatiltis?utm_source=share&amp;utm_campaign=share_via&amp;utm_content=profile&amp;utm_medium=ios_app" target="_blank" rel="noopener noreferrer nofollow">LinkedIn</a> profile. The Lithuania-based payment processor allowed customers to convert their fiat currencies into crypto tokens on Binance’s exchange, focusing on European users.&nbsp;
This is the latest departure from Binance-related entities as of Oct. 19 following a lawsuit from the U.S. Securities and Exchange Commission (SEC) alleging securities fraud. The suit indicted Binance Global, Binance.US, and CEO Changpeng Zhao.
Binance’s Asia-Pacific director, Leon Foong, left the company on Aug. 31, a few weeks after general counsel Hon Ng and chief strategy officer Patrick Hillmann resigned.&nbsp;
Stéphanie Cabossioras, Binance France’s Managing Director, <a href="https://crypto.news/binance-frances-managing-director-steps-down-amidst-regulatory-challenges/" rel="noopener noreferrer nofollow">stepped down</a> amid regulatory scrutiny aimed at Zhao’s company across multiple jurisdictions in North America, Europe, and Western Africa.
Binance has reportedly ceased operations or withdrawn license applications in countries like the Netherlands, Germany, and the UK.&nbsp;
You might also like: <a href="https://crypto.news/binance-us-alters-fdic-coverage-for-crypto-deposits/" rel="noopener noreferrer nofollow"> Binance US alters FDIC Coverage for crypto deposits </a>
The crypto exchange heavyweight also <a href="https://crypto.news/binance-resumes-operations-in-belgium/" rel="noopener noreferrer nofollow">resumed</a> operations in Belgium and announced new fiat channels in partnership with unnamed service providers after primary European payment processor Paysafe <a href="https://crypto.news/paysafe-ending-support-for-binances-eu-customers-some-face-early-restrictions/" rel="noopener noreferrer nofollow">halted</a> services for Binance users.&nbsp;
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 More EUR fiat channels have arrived on <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Binance</a> We’re proud to announce that we’ve entered into agreements with multiple new EUR partners to provide deposit, withdrawal, and payment services, making your experience even more seamless. Find out more 👇<a href="https://t.co/jKh2QxH3sN" target="_blank" rel="noopener noreferrer nofollow">https://t.co/jKh2QxH3sN</a>— Binance (@binance) <a href="https://twitter.com/binance/status/1715041951353827722?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 19, 2023</a>
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Zhao’s company, crypto’s largest centralized exchange by trading volume, remains the subject of an <a href="https://crypto.news/binance-and-changpeng-zhao-ask-court-to-dismiss-sec-suit/" rel="noopener noreferrer nofollow">SEC enforcement action</a>.&nbsp;
Read more: <a href="https://crypto.news/binance-reportedly-blocked-over-100-hamas-related-accounts/" rel="noopener noreferrer nofollow"> Binance reportedly blocked over 100 Hamas-related accounts </a>

Head of Binance payment processor resigns

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