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Crypto exchange Binance.US hires former PayPal executive as CFO – TechStory


Representations of cryptocurrencies Bitcoin, Ethereum, DogeCoin, Ripple, and Litecoin are seen in front of a displayed Binance logo in this illustration taken, June 28, 2021.

Source: Reuters

The associate of the biggest cryptocurrency exchange across the globe, Binance.US appointed Jasmine Lee as its CFO on July 7. Jasmine Lee worked as a director in PayPal previously.

Before joining Binance.US Lee worked as the chief financial officer and COO of financing app Acorns. Prior to this, she served in the U.S. Financial tech PayPal Holdings as one of the top management for around 8 years.

The Cryptocurrency exchange firm has hired Lee in the circumstances when capitalists have been disposing of their digital credits as they are afraid that due to a combative rise in interest rates from central banks all around the world the market will have to witness a financial downturn.

Currently, the crypto sector has also been at the center of attention of the directors who are concerned that the slowdown in the elusive market might have an impact on the greater economic industry. The concerns have aroused a demand for additional policies on the sectors which are highly uncontrolled.

The Cryptocurrency exchange firm had been looking for a deserving person to fit in the post for the past 9 months. Lee would take place of the temporary chief financial officer, Eric Segal, of Binance.US. Her profile suits best the vision of the crypto exchange firm to start its public listing in the 2-3 years. During the declaration of her appointment, the CEO and Lee herself reconfirmed the ambitions of the firm.

The chief executive of the crypto exchange said during the announcement that Lee is an extraordinary genius who owns broad insight about both the financial tech industry and the high-growth startup atmosphere for a period higher than 20 years. Further adding he said that her participation at PayPal Holdings, which is listed in the top 500 companies of Fortune, will be of great advantage to the firm since it is moving ahead with its aim to start public offerings in recent years.

Brian Shroder who was given the post of the chief executive of the firm back in October 2021, from the time of joining his office has been determined towards preparing the company to start its public listing. He ended the first undertaking session of the firm in April this year, taking around $200 million from the capitalists at an appraisement of $4.5 billion. Thereafter, he announced in public his plans to start the public listing of the firm.

Even though at present the crypto sector in most parts of the world is dealing with a downturn, the firm assured its worker that it is at ease to resist the difficulties.

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