Binance.US Hires Former Bank Regulator Brian Brooks As CEO, Former Head Coley To Depart

Brian Brooks, the Trump administration’s Acting Comptroller of the Currency and the former Coinbase Executive, is all set to become the CEO of the United States affiliate of the world’s largest crypto exchange Binance. The Wall Street Journal first reported this news.

Meanwhile, Catherine Coley, the current CEO of Binance.US will step down from her position by the beginning of May 2021. This was confirmed by Brooks himself in a CoinDesk TV appearance.

Brooks has shown a remarkable performance while operating the OCC (Office of the Comptroller of Currency). Under his command, the OCC published numerous interpretative letters to improve the national banks’ interaction with cryptocurrencies. This allows the banks to acquire crypto custody providers, do transactions using Stablecoins, and provide custody services for cryptocurrencies. However, things will turn out to be in banks’ favor only if they take full advantage of these interpretive letters.

Brooks sees it as the best opportunity to build a fully compliant yet product-diversified crypto platform in the United States, as said in his Coinbase TV appearance.

According to Binance founder Changpan “CZ” Zhao “Brian is an esteemed leader with an unparalleled blend of experience across traditional financial services, government, and the digital assets industry. His knowledge and expertise will be invaluable as Binance.US continues to expand”, as said in a statement.

However, the current CEO of Binance U.S., Catherine Coley didn’t respond to any of the press queries regarding her departure from the company.

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