After the Executive director, Binance Labs Head Left his role

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Another top-tier person left Binance Labs to work separately in other crypto inclined projects as an investor.

Binance is a first ranked crypto exchange, thanks to the quality crypto services via its secured platform. Binance Labs is a backed company behind the Binance exchange, which keeps investment management works. Binance Labs have invested in more than 100 companies so far.

Recently Chinese crypto blogger Collin Wu took to Twitter and informed the crypto Community that Bill Qian, former Binance Labs Head, left his role at Binance Labs. 

“After the departure of Bill, the former head of Binance Labs, the Binance investment department is temporarily led by @kenkxli. He graduated from Harvard, worked at BCG since 2017, and joined Binance in 2021.”

Collin Wu also confirmed that Bill will work on Web3 inclined project as an investor. 

Initially, Bill joined Binance Labs in 2020, so we can consider that the majority of the important investment by Binance labs took place under the leadership of Bill. 

Earlier, Nicole Zhang left Binance Labs in May of this year. She was working in Binance labs as executive director. Now due to the departure of these two key officials from Binance Labs, the company is dependent upon the leadership of Ken Li temporarily.

Crypto winter & problems for crypto firms

At present, the crypto industry saw a huge outflow of money and that resulted in a huge downfall in the price of almost every crypto asset. 

Due to this situation, the majority of the crypto exchanges decided to stop hiring new employees and also take on critical decisions and steps, which are necessary to bring achievements to reality.

Recently Coinbase exchange decided to stop hiring new employees and also Gemini crypto exchange decided to cut off 10% of employees’ strength. 

Read also: Web3 doesn’t provide value to society, says Dogecoin co-founder