This week, Binance.US made a few staff changes. Brian Shroder, the newly appointed President of Binance.US, has been moved to Chief Executive Officer (CEO). Binance.US has been preparing for a possible IPO in the future. The firm just hired its first lobbyists in Washington and launched deposits and withdrawals of BEP-20 tokens. There is a coordinated effort to have US users ready to comply with any restrictions that may come their way.
The US Franchise also selected a new temporary Chief Financial Officer (CFO). For now, Eric Segal will fill in for Joshua Sroge as the search continues for a long-term successor. The actions taken by Binance.US aid the company’s plan for navigating authorities’ tightening grasp and preparing for a long-term IPO goal (IPO).
Comments on Shroder’s hiring on Twitter offered many ideas for how Binance.US might assist Americans in the future. Many people are disappointed that Binance.US isn’t available in all 50 states. The many compliances that must be met for each state provide a significant challenge for the business. The business has announced its intention to become the next Coinbase, a feat that it can achieve. Binance.US cited Shroder’s prior employment at Ant Group and Uber as evidence of his potential for success.
Texas and New York, two of the country’s biggest states, aren’t supported by the exchange. New York stands apart because it excludes several of the country’s largest financial institutions. For Binance.US to have any chance of succeeding in the US market, it must be accessible to all the states and financial institutions that exist. It will not be a simple job, but if completed, they may enter the ranks of Coinbase or higher.