Binance.US recently announced that they have hired Sidney Majalya as the crypto exchange’s chief risk officer. Majalya is said to join the team in January 2022. He was working as the Vice President, Legal and Chief Compliance Officer, for Intel before being hired by the exchange.
According to a blog post, Majalya will be reporting directly to Brian Schroder, CEO, Binance.US. As crypto market is witnessing tremendous growth, it has become pivotal for the US government to regulate this under-regulated market. Binance.US onboarding Majalya sends out a message to the world that the exchange is taking the compliance front seriously.
Majalya has previously worked for Uber, Oracle, and the Justice department of the US. Majalya’s LinkedIn profile elaborates the significant role he played at these organizations and the valuable experience he is going to add to Binance.US.
Binance.US is deeply committed to compliance, and our priority is to maintain and grow a world-class compliance and risk organization. The new priorities are bound to earn the utmost confidence and trust of our customers, investors, as well as regulators – Majalya said in a statement. He is going to be the first executive hired to work in the “risk” division of the exchange.
Recent Shift in the Binance.US Leadership
In the last couple of months, Binance.US has seen surprise leadership shifts. Brian Brooks, (ex) CEO left the exchange in just four months citing strategic direction differences as the reason for leaving. Brian Schroder, was then hired as the CEO, who came with extensive learnings from Ant Group Co. and Uber.
Binance.US is said to raise a couple of hundred million dollars in the on-going funding rounds. Changpeng “CZ” Zhao mentioned this in an interview he gave to Bloomberg’s New Economy. Also, the exchange is aiming to go public in the next 2-3 years.