- Stéphanie Cabossioras resigns as Managing Director of Binance France.
- Speculation links her exit to ongoing European regulatory issues.
- Several other high-ranking Binance executives have also left this year.
Stéphanie Cabossioras, the managing director of Binance France, has recently resigned from her position, becoming the latest senior executive to leave Binance this year. Her departure marks at least the tenth high-ranking executive to leave the crypto exchange this year.
This recent departure was acknowledged by David Prinçay, the President of Binance France, who expressed gratitude for Cabossioras’ contributions. He noted, “We thank Stéphanie for her strong contribution to Binance France and wish her the best for her next challenge.”
While the official reason for her departure remains undisclosed, many speculate that Cabossioras’ exit is closely tied to ongoing regulatory issues plaguing Binance across Europe. Last June, French authorities initiated an investigation into the French exchange’s operations, raising concerns about possible illegal activities and money laundering.
Binance has also encountered regulatory hurdles in other European countries, leading to the suspension of certain services and withdrawal of applications in nations like the UK, Netherlands, Belgium, and Germany. The company has also been entangled in several lawsuits in the United States, with accusations of operating an unregistered exchange, mishandling customer funds, and misleading investors.
Cabossioras’ exit adds to the growing list of executives who have left Binance this year. Notable names include Binance’s global head of product, Mayur Kamat, Chief Strategy Officer Patrick Hillmann, and General Counsel Hon Ng.
This wave of resignations seems to be a response to the challenges Binance faces with U.S. regulators, including legal actions and charges levied against it by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission.
Despite these challenges, Binance has continued to expand its operations in France, setting up its European hub in Paris, adding over 150 positions, and investing $105 million into the country’s blockchain ecosystem.
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