Binance.US Taps Joshua Sroge to Be Interim CEO

Sroge takes over from Brian Brooks, who resigned unexpectedly after just four months.

AccessTimeIconAug 19, 2021 at 8:15 p.m. UTC
Updated Sep 14, 2021 at 1:42 p.m. UTC

Joshua Sroge has become Binance.US's interim CEO, replacing Brian Brooks, who resigned unexpectedly earlier this month from the U.S. arm of crypto exchange Binance.

  • Sroge joined Binance.US in January 2020, serving as its CFO.
  • Brooks’ exit after just four months and the similarly unexpected departure of the director of Binance Brazil have been among a series of challenges for the world's largest crypto exchange by trading volume. Binance has faced intensifying regulatory scrutiny in several countries, including the U.K. and Japan.
  • According to a report in the New York Times on Thursday, Brooks resigned after a venture capital investment he was trying to complete to diversify the company’s ownership fell through.
  • The potential investors were concerned that U.S. authorities were investigating Binance over money laundering and tax issues, and also CEO Changpeng Zhao’s concentrated ownership of Binance.US. Zhao owns roughly 90% of Binance.US, according to the Times report.
  • According to The Times, Sroge said in a statement that the company still intended to grow, including raising outside capital and “expanding its board of directors with experienced leaders, among other initiatives consistent with those pursued by fast-growing private companies.”


Read more about

DISCLOSURE

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

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.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC