Binance.US Named Former PayPal Executive As New CFO: Report

Binance.US named former PayPal executive as a new CEO and now Jasmine Lee will replace Eric Segal as we can see more today in our latest binance news.

Crypto exchange Binance.US named former PayPal executive Jasmine Lee as the new chief financial officer at the platform. Lee rose to become the chief financial officer for the consumer product group at PayPal during their eight-year tenure for the consumer payments giant and she even held the title of chief financial officer and chief operating officer at Acorns as a micro-investing app company. The Binance.US CEO Brian Shroder said:

“Jasmine is a rare talent who possesses more than 20 years of deep knowledge in both fintech and high-growth startup environments. Her experience at PayPal, a public Fortune 500 company, in particular, will be invaluable as we chart our path to an IPO in the coming years.”

Binacne.US launched zero-fee BTC trading last month and it seems to be focusing now on increasing the consumer reach as the market crashed. The exchange is looking to raise $50 million in funds after it managed to close its $200 milion seed round. Lee said in a statement:

“I look forward to building out a best-in-class finance department at Binance.US that lays a strong foundation for continued growth and our path to a future IPO.”

Eric Segal was serving as a Binance.US CFO since 2021 when he replaced the departing Joshua Sroge.

Binance resumed local currency deposits and the withdrawals should be resumed shortly according to the company. The global exchange Binance resumed deposits in the Brazilian real via the government’s payment system PIX.
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The real withdrawal via Pix is suspended and should resume shortly on June 17, the company suspended these options after it terminated a partnership with the local payment company Capitual which operated the exchange’s deposits and withdrawals via Pix since 2020.

Replacing Capitual, Binance will be operating with the Brazillian payments platform Latam Gateway that will use the bank accounts hosted by BS2 which is listed by the Central Bank of Brazil to access the network of Pix. When it severed the relationship, Binance said it will take legal action against Capitual without giving out too many details while Capitual stated that it will sue Binance because it failed to comply with the regulation and required the exchange to single out user accounts.