Binance, a major cryptocurrency exchange, has restructured its leadership, forming a new board chaired by Gabriel Abed. The move follows legal challenges, including a $4.3 billion settlement with US authorities, prompting a commitment to transparency and regulatory compliance. The board’s composition, with a mix of insiders and independent professionals, aims to enhance governance and regulatory practices.
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0 posts last weekBinance Forms New Board of Directors After Regulatory Settlement
Binance Holdings has established a new seven-person board of directors, chaired by Gabriel Abed. This move follows the resignation of former CEO Changpeng Zhao and a $4.3 billion settlement with U.S. authorities, requiring the formation of a board with independent members and compliance and audit committees. The company’s operations and personnel have been largely decentralized, and it now operates out of the UAE and France for its Middle East, North Africa, and European businesses.
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