Paris – The head of Binance’s French arm, Stéphanie Cabossioras, stepped down from her role as managing director today, marking the latest C-suite departure for the embattled cryptocurrency exchange.
Cabossioras was appointed to lead Binance’s French operations in April 2022, having previously served as deputy general counsel for France’s financial regulator. Her resignation comes amid mounting legal scrutiny faced by Binance across Europe.
Investigations into Binance have been initiated in multiple countries, including in France where regulators are probing unauthorized services and potential money laundering. The company has also pulled back on expansion plans in the UK, Netherlands, Germany and elsewhere.
Cabossioras is the latest in a series of high-profile exits this year, following the heads of product, strategy, general counsel, and Asia-Pacific. The departures have raised concerns over stability in Binance’s leadership during a period of intense regulatory pressure.
The crypto giant and its CEO Changpeng Zhao are also embroiled in legal battles in the US, with accusations over mismanaged client assets and misleading information given to authorities.
Cabossioras’ exit signals deepening troubles for Binance in navigating complex regulatory compliance as scrutiny of the crypto sector intensifies globally.
