Binance.US, an offshoot of Binance – the largest crypto exchange in the world, has hired the former Comptroller of the Currency, Brian Brooks, as its new Chief Executive Officer.
In a strategic coup, Brooks will now be leading Binance.US, a top ten crypto exchange, in its efforts to better compete in the hot digital asset market in the US.
Brooks issued the following statement:
“I am thrilled to be joining Binance.US at this pivotal time for the digital assets industry. We are at the cusp of mainstream adoption of blockchain technology and digital tokens by individuals, institutions, and governments alike. I look forward to working with Binance.US’s talented team to promote its culture of compliance and continue to grow its product and service offerings across markets. I am eager to work closely with industry participants and policymakers to develop an enduring regulatory framework that enables Americans to reap the benefits of decentralized finance for generations to come.”
Changpeng Zhao, founder and CEO of Binance, stated:
“Brian is an esteemed leader with an unparalleled blend of experience across traditional financial services, government, and the digital assets industry. Binance.US’s ability to attract an executive of Brian’s caliber is a testament to the strength of its platform. His knowledge and expertise will be invaluable as Binance.US continues to expand.”
Binance.US noted that during Q1 of 2021 it grew registered users by 4X and daily trading volume hit $1.4 billion. Binance.US currently operates in 43 states across the US, trading over 50 digital assets. Binance.US offers over 100 trading pairs and claims some of the lowest trading fees in the US. Since its launch in 2019, Binance.US reports having traded over $65 billion of digital assets.
Brooks stepped into the Comptroller role in mid-2020 as acting Comptroller, and quickly moved forward on multiple areas of interest to the Fintech sector. He clarified that federally chartered banks could hold crypto while approving Anchorage as the first chartered digital asset bank. He also helped to clarify the Madden Rule that impacts online lenders.
In his role as Comptroller, Brooks benefited from prior experience as Chief Legal Officer at Coinbase, among other executive roles at various financial services firms. Brooks received his BA from Harvard University and his JD from the University of Chicago.
Brooks will commence as CEO on May 1, 2021.