Binance Faces Exodus of Top Executives Amid Regulatory Challenges

Several senior officials, including the General Counsel, Chief Strategy Officer, and Senior Vice President for Compliance, have left cryptocurrency exchange Binance amid an ongoing investigation by the U.S. Department of Justice (DOJ). The departures are reportedly due to dissatisfaction with Binance CEO Changpeng Zhao's handling of the investigation, which relates to alleged attempts to deceive U.S. regulators, money laundering, and violations of sanctions. Binance is already facing lawsuits and investigations from multiple regulators worldwide, and the exodus of executives from its legal and compliance units is expected to complicate its defense. The price of Binance's native crypto token, BNB, has dipped about 2% following the news.