Binance appoints new general counsel amid intensifying legal troubles

Binance has appointed Eleanor Hughes as its new general counsel, effective immediately, according to a July 13 press release.

Hughes first joined Binance in November 2021 and was subsequently appointed head of legal for the APAC and MENA regions. She played a key role in successfully securing operational licenses for the exchange in various jurisdictions — including Dubai and Bahrain — in the two regions.

Her success in both regions could be why the exchange has promoted her to lead its global regulatory efforts, which have not been going smoothly in major regions like Europe and the U.S.

According to the release:

“A major focus of her work will be on collaborating with Binance’s Global Compliance team to support our commitment to responsibly grow the global Web3 industry in close collaboration with regulators and policymakers around the world.”

Hughes is filling the role recently vacated by Han Ng, who stepped down along with two other executives last week — chief strategy officer Patrick Hillman and vice president of compliance Steven Christie.

High-level departures

Media reports at the time claimed the departures were related to the exchange’s regulatory troubles and disagreements with CEO Changpeng ‘CZ’ Zhao.

The reports also cited sources within Binance claiming the executives were leaving due to worries of looming legal action by the U.S. Department of Justice.

However, Hillman responded to the reports via social media and said the reports were unfounded and the departures were driven by personal reasons.

CZ also took to social media to quell the rumors and said the reports were more “FUD” — a common, dismissive shorthand for fear, uncertainty, and doubt. He added that the departures were a regular part of the exchange’s operations.

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