Binance Sees Another High-Profile Departure as Former Head of UK Moves On

Jonathan Farnell, who served as head of Binance U.K. and CEO of its payment service Bifinity – which was disbanded in August – left the firm in September.

AccessTimeIconOct 24, 2023 at 9:38 a.m. UTC
Updated Oct 24, 2023 at 9:47 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Binance lost its head of U.K. operations last month, continuing a stream of high-level execs heading for the door at the world's largest crypto exchange.

Jonathan Farnell, who served as head of Binance U.K. and CEO of its payment service Bifinity (which was disbanded in August) left the firm in September, according to his LinkedIn profile.

"We'd like to thank Jonathan for his contributions and wish him all the best on his next challenge," Binance said in an emailed statement.

Farnell joined Binance in May 2021, and the following year, he took up the position of CEO of Eqonex, the holding company of crypto custodian Digivault as per the terms of a loan agreement, which gave Binance the right to appoint a CEO from within Bifinity.

Bifinity was looking to acquire Eqonex at the time, but it fell through, and Eqonex entered voluntary liquidation in November 2022.

Farnell appeared to serve as Eqonex CEO concurrently with his employ at Binance, according to his LinkedIn profile.

Binance has suffered a number of high-profile departures in recent months, most recently losing Global Product Lead Mayur Kamat earlier this month. This followed Chief Strategy Officer Patrick Hillmann, Senior Director of Investigations Matthew Price and SVP for Compliance Steven Christie, who all left the company in early July.

Edited by Sandali Handagama.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

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 to register and buy your pass now.

Read more about