Binance head of product quits as executive exodus continues

Cryptocurrency change Binance continues to lose a few of its key executives amid rising scrutiny of the platform from regulators world wide.

Binance head of product Mayur Kamat has confirmed he’s leaving the crypto change after almost two years.

“It’s time for me to step down and transition product management to Binance’s next-gen leaders. I’ve labored intently with product leads to make sure a seamless transition,” Kamat advised Cointelegraph on Sept. 4.

Kamat additionally stated that it’s a good time for him personally to take a while off after 20 years of “continuous product work.” He added:

“It has been an expertise of a lifetime working at Binance and seeing our consumer base develop. Due to [Changpeng Zhao] CZ and all the management crew for this superb alternative. I will likely be cheering Binance from the sidelines.“

Previously a product supervisor at corporations like Google and Agoda, Kamat joined Binance as head of product in January 2022. In keeping with his LinkedIn profile, the exec was heading world product and design groups at Binance, serving to grow Binance from 80 million to greater than 150 million customers in 18 months.

The previous Binance product lead is named an early adopter of Bitcoin (BTC). He reportedly purchased his first two Bitcoin in 2011, simply two years after the cryptocurrency was launched. Kamat stated that it wasn’t for funding functions, although, however moderately to buy a VPN connection.

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The most recent resignation at Binance comes a number of weeks after the change was hit by a large exodus of key executives, together with Binance’s chief technique officer Patrick Hillmann. Whereas the exec cited private causes for his departure, many cryptocurrency observers suspected that the departure had one thing to do with the United States Department of Justice investigating Binance.

Amongst different departures are basic counsel Han Ng and senior vp for compliance Steven Christie, who had been reported to have left Binance in early July.

Extra reporting by Cointelegraph journalist Prashant Jha.

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