Cryptocurrency exchange Binance continues to lose some key executives amid growing scrutiny of the platform from regulators around the world.
Mayur Kamat, head of product at Binance, has confirmed that he will be leaving the cryptocurrency exchange after nearly two years.
“Now is the time for me to resign and hand over product leadership to Binance’s next generation leader. I work closely with the product owner to ensure a seamless transition,” Kamat told Cointelegraph on September 4.
Kamat also said that after 20 years of “non-stop product work,” it was a good time for him personally to take a break. He added:
“Working at Binance and seeing our user base grow is the experience of a lifetime. Thank you (CZ) CZ and the entire leadership team for this amazing opportunity. I will be rooting for Binance from the sidelines.”
Kamat has worked as a product manager for companies such as Google and Agoda join in In January 2022, Binance will serve as Head of Product.According to his LinkedIn profile, the executive leads Binance’s global product and design teams, helping to grow Within 18 months, the number of Binance users grew from 80 million to over 150 million.
The former head of product at Binance is known as an early adopter of Bitcoin (BTC). He reportedly bought his first two bitcoins in 2011, just two years after the cryptocurrency launched. Kamat said it was not for investment purposes, but to buy a VPN connection.
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Binance’s latest resignation comes just weeks after the exchange was hit by an exodus of a slew of key executives, including Binance Chief Strategy Officer Patrick Hillmann. Although the executive cited personal reasons for his departure, many cryptocurrency watchers suspect that his departure is related to the U.S. Department of Justice’s investigation of Binance.
Other departures include general counsel Han Ng and senior vice president of compliance Steven Christie, who reportedly left Binance in early July.
Additional reporting by Cointelegraph reporter Prashant Jha.
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