Bitfury Hires Former Binance US Chief Brian Brooks as CEO
Brooks is replacing Valery Vavilov, who will stay on as Bitfury’s “chief vision officer.”
Bitcoin mining company Bitfury has hired former Binance US chief Brian Brooks as its new CEO.
- Brooks is replacing Valery Vavilov, who will stay on as Bitfury’s “chief vision officer,” according to an announcement Thursday.
- “Mr. Brooks will lead the 10-year-old crypto unicorn as it launches a new funding round, increases the growth of its mining business with a revolutionary new microchip design and new global data center locations,” Bitfury announced.
- The appointment comes weeks after news that Bitfury was planning to go public in the next 12 months in what would be Europe’s biggest cryptocurrency valuation.
- The Amsterdam-based firm is thought to be valued at $1 billion.
- After just four months with Binance US, Brooks resigned in August citing “differences over strategic direction” between him and his colleagues.
- His appointment had been seen as a sign that the infamously opaque Binance was seeking an image of greater transparency through hiring well-regarded regulators to senior roles.
- Brooks had previously served as the acting controller of the Office of the Comptroller of the Currency (OCC), the regulator for U.S. national banks, between May 2020 and January 2021.
UPDATE (Nov. 4, 14:16 UTC): Adds Bitfury’s announcement.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.