Crypto Giant Binance's U.S. Arm Faces Layoffs Amid Regulatory Showdown
Portfolio Pulse from Murtuza Merchant
Binance.US, the U.S. affiliate of crypto giant Binance, has reportedly laid off around 50 employees following recent regulatory charges and asset freeze requests by the SEC. The affected employees are primarily from the legal, compliance, and risk departments.
June 16, 2023 | 12:11 am
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Binance.US faces layoffs amid regulatory showdown with the SEC, potentially impacting the value of Binance Coin (BNBUSD) in the short term.
The layoffs at Binance.US, primarily in the legal, compliance, and risk departments, indicate the company is facing significant regulatory challenges. This could lead to a negative impact on the value of Binance Coin (BNBUSD) in the short term, as investors may perceive the situation as a sign of instability and potential future regulatory issues for the company.
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