The latest Binance news show that even more former professionals from the leading cryptocurrency exchange are finding themselves in new roles and new companies. This is the case of an ex Binance head of trading which recently moved to the derivatives exchange, becoming its new chief strategy officer (CSO).
On December 16, reports from The Block showed that the ex Binance executive Leslie Tam is now looking to expand his professional horizons at the cryptocurrency exchange CoinFlex. In his new role as a chief strategy officer (CSO), he will explore different possibilities for the company to expand its services.
Before this, we could see how Leslie Tam oversaw the over-the-counter (OTC) trading operations for Binance, which is still one of the world’s largest cryptocurrency exchanges and a leader in the cryptocurrency news every day. At his former position, Tam held an executive role as the lead of the VIP coverage and head of trading.
Many media outlets are still waiting on reports regarding Tam’s new position but had yet to receive a response as the information is fresh. The ex Binance head of trading will definitely benefit CoinFlex in many ways.
As a reminder, in October this year Tam’s new employer launched the physically delivered futures contracts that will be settled based on whether Facebook’s Libra stablecoin launches in 2020. CoinFlex’s “initial futures opening” (IFO) reportedly sets the price of a futures contract at 30 cents and reflects a roughly 30% likelihood that Libra will launch by December 2020.
“Facebook has the ability to rival the entire global banking system from day one, but, because of that fact, when that first day will be is far from certain. The political backlash has been brutal, and it’s anyone’s guess if Facebook will get this over the line,” the exchange’s CEO Mark Lamb noted at the time.
Despite the news about the ex Binance head of trading now becoming CSO at CoinFlex, we can also see that in August this year, the company received $10 million for Bitcoin futures settlements through a funding round from Bitcoin Cash (BCH) advocate and Bitcoin.com CEO Roger Ver, as well as many other companies including Polychain Capital, NGC Ventures and Divergence Digital Currency.
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