As Binance prepares to defend itself against multiple regulatory investigations, at least three senior officials have departed the embattled crypto exchange this week, according to Fortune. Han Ng, Binance’s General Counsel, Chief Strategy Officer Patrick Hillmann, and Senior Vice President for Compliance Steven Christie have all resigned, a source familiar with the matter told Fortune. Global Vice President of Marketing and Communications Steve Milton left the company in June, according to his LinkedIn profile. Senior Director of Investigations Matthew Price also recently left the exchange.
A Binance spokesperson did not immediately return a request for comment. However, Hillman tweeted that he was leaving on good terms and that he “continues to respect and support” Binance founder and CEO Changpeng “CZ” Zhao.
The departures come as Binance faces investigations from multiple regulators around the world, including the U.S. Department of Justice, the Securities Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC). The SEC has alleged that Binance committed 13 counts of securities law violations, while the CFTC has filed a lawsuit against the exchange. Binance also faces investigations from European and Australian regulators.
The investigations have had a major impact on Binance’s operations, both in the U.S. and internationally. Binance.US has ceased trading in U.S. dollars, and the exchange lost a major European banking partner in the wake of the SEC lawsuit. The price of BNB, Binance’s native crypto token, has also dipped about 2% since the news of the executive departures broke.