Binance Executive Brian Shroder Resigns Amid Rising Regulatory Problems.

Binance US faces challenges from regulators.The well-known crypto company Binance US has seen its market share shrink fast. In just a few months, it dropped from 22% in April to only 0.9% by the end of June. This comes as they have problems with US rule-makers, the SEC.

The company is changing a lot. They've cut about one-third of their workers, which means 100 fewer jobs. A major executive, Brian Shroder, also left the company. For now, Norman Reed is taking over Brian's job.

When Brian joined in 2021, Binance US was facing many challenges from people who make rules. A Binance US Spokesman talked about the layoffs saying they made these changes to keep the company strong. They want to focus only on crypto.

The SEC, has been very strict with crypto companies and this is making things tough for Binance US. They even had to stop transacting with real dollars for a bit. But, after joining hands with another company, MoonPay, in August, they started transacting with dollars again.

Data from a report shows that Binance US is finding it hard in the US. With all these challenges, they've lost a lot of their market power. It's a tough time for them in America.