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By: www.ProfitableInvestingTips.com
From mariners in the days when ships with sails
crossed the globe comes an insight. When the
rats start to leave it means that the ship is
sinking. This thought came to mind when we
saw that several executives of Binance have
left.
Are Binance executives leaving a sinking ship?
Anyone in an executive position in a business
may choose to improve their lot by taking a
better position with another company. But
when more than one person leaves it makes us
think that insiders know more than what the
company is saying about its future.
Who Is Leaving Binance and Why?
Bloomberg reports about how the exit of top
Binance executives coincides with the
crackdown on crypto and pressure on Binance
specifically. The first three executives whose
exits raise questions about Binance stability are
Hon Ng, general counsel, Steven Christie,
senior vice president for compliance, and chief
strategy officer Patrick Hillmann. Hillmann left
on good terms according to one of his tweets.
Yibo Ling who is the chief business officer of
Binance has also apparently left although this
information is second hand and Mr. Ling has
not responded to inquiries. No reasons for
anyone leaving were given by the individuals
or by Binance. What is worrisome is that these
are positions that are likely central to Binance’s
efforts to deal with regulatory issues.
Did Binance Execs Leave to Avoid Getting in
Trouble With Regulators?
Looking at the still-evolving fraud inquiry at
FTX, three top executives had been charged as
of February 2023. Not only is Sam Bankman-
Fried in big trouble but so are many at the top
of the FTX business. One wonders if Binance
execs are leaving in order to avoid doing things
or knowing things that could lead to legal
charges.
One wonders if any or all of them will be talking
to regulators and making deals. On the other
hand, all of these folks may just see Binance as
a company whose best days are past. If that is
the case they are probably just looking for
better paying and more secure jobs.
How Bad Are the Problems at Binance?
When FTX head Sam Bankman-Fried asked the
head of Binance for a bailout nobody knew
how bad things were at FTX. Mr. Zhao had
some idea, however, because he refused to step
in and rescue FTX. We know that regulators in
the US, Europe, and the Asian Pacific are going
after Binance. Binance’s share of crypto trading
has fallen for several months in a row to stand
at about 42% of the market today.
Banking partners in the US, Europe and
elsewhere have ceased working with Binance
which makes it difficult for customers to move
money from fiat currencies to Binance and back
again. Binance has repeatedly soft peddled
regulatory issues, saying that they have
complied as best they could and that continued
regulatory efforts are “disappointing.” This
year BND, the Binance token, has fallen 11%
while Bitcoin and Ether have rebounded from
their crypto winter lows.
A Look at Binance Insider Trading Would Be
Useful
There is one issue especially that has come to the
fore after the horrific losses of crypto winter. It
is the lack of transparency of crypto businesses.
Nobody had a clue how bad things really were
at FTX until bankruptcy proceedings.
Something that investors watch in the stock
market is trading of stocks by company
insiders. When top company executives sell
some of their stock they have to report the sale.
This becomes public information. Thus, we have a
clue when insiders do not like the prospects of
the company they work for and administer.
Because this sort of reporting is not required in
crypto we are left with wondering just why
four top executives of Binance appear to be
leaving a sinking ship when the boss keeps
saying that things are all OK.
For more insights and useful information about
investments and investing, visit
www.ProfitableInvestingTips.com.

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Are Binance Executives Leaving a Sinking Ship?

  • 2. From mariners in the days when ships with sails crossed the globe comes an insight. When the rats start to leave it means that the ship is sinking. This thought came to mind when we saw that several executives of Binance have left.
  • 3. Are Binance executives leaving a sinking ship? Anyone in an executive position in a business may choose to improve their lot by taking a better position with another company. But when more than one person leaves it makes us think that insiders know more than what the company is saying about its future.
  • 4. Who Is Leaving Binance and Why?
  • 5. Bloomberg reports about how the exit of top Binance executives coincides with the crackdown on crypto and pressure on Binance specifically. The first three executives whose exits raise questions about Binance stability are Hon Ng, general counsel, Steven Christie, senior vice president for compliance, and chief strategy officer Patrick Hillmann. Hillmann left on good terms according to one of his tweets.
  • 6. Yibo Ling who is the chief business officer of Binance has also apparently left although this information is second hand and Mr. Ling has not responded to inquiries. No reasons for anyone leaving were given by the individuals or by Binance. What is worrisome is that these are positions that are likely central to Binance’s efforts to deal with regulatory issues.
  • 7.
  • 8. Did Binance Execs Leave to Avoid Getting in Trouble With Regulators?
  • 9. Looking at the still-evolving fraud inquiry at FTX, three top executives had been charged as of February 2023. Not only is Sam Bankman- Fried in big trouble but so are many at the top of the FTX business. One wonders if Binance execs are leaving in order to avoid doing things or knowing things that could lead to legal charges.
  • 10. One wonders if any or all of them will be talking to regulators and making deals. On the other hand, all of these folks may just see Binance as a company whose best days are past. If that is the case they are probably just looking for better paying and more secure jobs.
  • 11. How Bad Are the Problems at Binance?
  • 12. When FTX head Sam Bankman-Fried asked the head of Binance for a bailout nobody knew how bad things were at FTX. Mr. Zhao had some idea, however, because he refused to step in and rescue FTX. We know that regulators in the US, Europe, and the Asian Pacific are going after Binance. Binance’s share of crypto trading has fallen for several months in a row to stand at about 42% of the market today.
  • 13. Banking partners in the US, Europe and elsewhere have ceased working with Binance which makes it difficult for customers to move money from fiat currencies to Binance and back again. Binance has repeatedly soft peddled regulatory issues, saying that they have complied as best they could and that continued regulatory efforts are “disappointing.” This year BND, the Binance token, has fallen 11% while Bitcoin and Ether have rebounded from their crypto winter lows.
  • 14. A Look at Binance Insider Trading Would Be Useful
  • 15. There is one issue especially that has come to the fore after the horrific losses of crypto winter. It is the lack of transparency of crypto businesses. Nobody had a clue how bad things really were at FTX until bankruptcy proceedings. Something that investors watch in the stock market is trading of stocks by company insiders. When top company executives sell some of their stock they have to report the sale.
  • 16. This becomes public information. Thus, we have a clue when insiders do not like the prospects of the company they work for and administer. Because this sort of reporting is not required in crypto we are left with wondering just why four top executives of Binance appear to be leaving a sinking ship when the boss keeps saying that things are all OK.
  • 17. For more insights and useful information about investments and investing, visit www.ProfitableInvestingTips.com.