Stéphanie Cabossioras has resigned from her role as CEO of Binance France, becoming at least the 10th senior executive to leave Binance this year.
In an October 19 post on X (formerly known as Twitter), Binance France resident David Prinçay confirmed Cabossioras' departure and expressed gratitude for his work on the exchange.
We thank Stéphanie for her great contribution to Binance France and wish her the best for her next challenge.
— David Prinçay (@davidprincay) October 18, 2023
“We thank Stéphanie for her great contribution to Binance France and wish her the best for her next challenge,” Prinçay wrote.
Cabossioras first joined Binance in April 2022, as head of legal at the French arm of the crypto exchange, before being promoted to CEO in November of the same year.
A Binance spokesperson told Cointelegraph that its France-based operations continue to grow and that Cabossioras' departure "had no impact on its operations."
Before joining the cryptocurrency exchange, Cabossioras was general counsel for the Autorité des Marchés Financiers, the organization responsible for much of financial regulation in the Canadian province of Quebec.
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The French arm of Binance fell under local investigation in Juneand the Paris Prosecutor's Office cited “acts of aggravated money laundering” among a litany of other charges as the basis of the investigation.
With his departure, Cabossioras adds his name to a staff of at least 10 senior executives leave Binance alone during the course of this year.
On July 6, three executives announced their respective departures, including Chief Strategy Officer Patrick Hilman, General Counsel Han Ng, and Binance Global Vice President of Marketing and Communications Steve Milton.
Binance CEO Changpeng “CZ” Zhao addressed these departures on July 7, describing them as normal parts of his company’s evolution and dismissing reports about them as FUD, an acronym for “fear, uncertainty and doubt.”
4. More FUD on some outputs. Yes, there is turnover (in all companies). But the reasons dreamed up by the “news” are completely wrong.
As an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world's largest crypto exchange in less than 5 months...
- CZ Binance (@cz_binance) July 6, 2023
Binance's legal problems have only worsened following a series of high-profile lawsuits filed against it by US regulators. In March, the Commodity Futures Trading Commission sued CZ, Binance and their affiliates for a series of alleged trade violations.
In June, the United States Securities and Exchange Commission began its own legal proceedings, suing CZ, Binance and their affiliates for allegedly operating as an unregistered securities broker, among other charges.
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