Multiple Binance Executives Resign Amid CZ’s Handling Of DOJ Probe

According to a report by Fortune on Thursday, it was stated that Han Ng, the general counsel, and Steven Christie, the SVP for Compliance, are departing from the company this week, along with Hillman. This news follows the recent resignation of Matthew Price, a former IRS agent who held the position of Binance’s Global Head of Intelligence and Investigations. A source familiar with the situation told Fortune that these departures are a response to CZ’s (Changpeng Zhao, the CEO of Binance) handling of the Department of Justice’s investigation into himself and his exchange.

Last month, the Securities and Exchange Commission (SEC) filed a lawsuit against Binance, alleging mishandling of client assets across its international platform, U.S. platforms, and other firms controlled by Changpeng Zhao, while also violating sanctions laws.

Binance has consistently fought against allegations made by regulators and media outlets over the years. One individual who has often countered such narratives is Patrick Hillman himself, who previously criticized Reuters in May for asserting that Binance mixed client funds with its corporate treasury.

On Thursday, Hillman confirmed over Twitter that he is indeed leaving Binance, but emphasized that his departure is amicable. He explained that he is stepping aside because his wife is expecting their second child, and he believes it is the right time to prioritize his family.

Hillman expressed his continued respect and support for Binance’s leadership, stating that he is grateful for the incredible opportunity he had to work under their guidance.

Furthermore, Hillman addressed rumors of “mass layoffs” at Binance in June, dismissing them as inaccurate. He clarified that the company was not “rightsizing” but rather conducting a routine “talent density audit” to reassess roles within the organization.

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