The world’s largest cryptocurrency exchange by trading volume, Binance Holdings Ltd has announced the appointment of Brian Brooks as the Chief Executive Officer of its Binance.US subsidiary.
Brooks, a former Comptroller of the Currency under former President Donald Trump is also known as “CryptoComptroller” in reverence to the initiatives he introduced while serving as the OCC boss.
The appointment of Brian Brooks comes at a time when Binance.US is seeing tremendous growth ranging from user registrations to daily trade volume. Per the announcement, the Binance.US exchange grew its registered users by four times and its daily trading volume to $1.4 billion. Since its inception in September 2019, “Binance.US has launched in 43 states across the United States and has grown its set of listings to over 50 digital assets, including 10 DeFi listings,” the trading platform noted.
Brian Brooks will be tasked with pushing forth these milestones and per his statement, he appears enthusiastic for the new job ahead.
“I am thrilled to be joining Binance.US at this pivotal time for the digital assets industry,” Mr. Brooks said. “We are at the cusp of mainstream adoption of blockchain technology and digital tokens by individuals, institutions, and governments alike. I look forward to working with Binance.US’s talented team to promote its culture of compliance and continue to grow its product and service offerings across markets. I am eager to work closely with industry participants and policymakers to develop an enduring regulatory framework that enables Americans to reap the benefits of decentralized finance for generations to come.”
Brain Brooks to Help Binance Navigate US Regulatory Terrain
As the former boss of the Office of the Comptroller of the Currency, Brain Brooks can be tagged as having the requisite knowledge to drive further growth in the firm. His background as a lawyer and former Chief Legal Officer at Coinbase Global Inc will also come to play in helping him chart a new path for Binance with US regulators.
Binance CEO, Changpeng Zhao has welcomed Brian Brooks in a statement saying;
“Brian is an esteemed leader with an unparalleled blend of experience across traditional financial services, government, and the digital assets industry. Binance.US’s ability to attract an executive of Brian’s caliber is a testament to the strength of its platform. His knowledge and expertise will be invaluable as Binance.US continues to expand.”
While the Coinbase IPO has signaled a new growth expectation for major exchanges, Changpeng Zhao has often reiterated he has no plans to take the exchange public.
