Binance.US key risk, legal execs said to leave crypto exchange

Binance.US's Head of Legal Krishna Juvvadi and Chief Risk Officer Sidney Majalya are departing from the cryptocurrency exchange that's been dealing with heightened scrutiny from regulators, the Wall Street Journal reported Thursday, citing people familiar with the matter. The departures come shortly after the exit earlier this week of CEO Brian Shroder and a culling of 100 employees, or one-third of the company's workforce. Binance.US is the American arm of Changpeng Zhao-founded crypto behemoth Binance. U.S. regulators, chiefly the Securities and Exchange Commission, have been increasingly cracking down on crypto exchanges ever since the downfall of FTX ( FTT-USD ). Recall the SEC sued Binance in June for allegedly breaching securities rules, accusing the platform of operating illegally in the country. More on Binance: Binance's global head of product resigns - report Mastercard to end crypto card pact with Binance in LatAm, Middle East Binance said to file protective court order against SEC