Binance Faces Crisis as Top Leaders Quit

Binance, the biggest cryptocurrency exchange, is facing a big problem as top leaders quit. They are unhappy with how CEO Changpeng Zhao (CZ) is handling an investigation by the US Department of Justice (DOJ).

Binance has been dealing with a lot of issues from authorities for months. These include claims of illegal money transfers, breaking rules on sanctions, and tricking US officials. 

Top Binance leaders who have quit include, The Chief lawyer, Han Ng, the Head of strategy, Patrick Hillmann, and the Vice president for following rules, Steven Christie. 

This comes after Matthew Price left. Price, who once worked for the US tax office, was in charge of looking into worldwide problems and information. 

Binance is also facing lawsuits from the SEC and the CFTC. The DOJ has been looking into the company for over a year. They're interested in how Binance might have tricked US officials and broken the law.

Key people leaving Binance's law and rules-following departments could lead to more issues with authorities. These departments deal directly with them.

The company may be thinking of different ways to deal with all the pressure from the authorities. Richard Teng, a rising star, is thought to be a possible new CEO. But, CZ has not said he will leave, even with all the trouble at Binance.

Binance's market share has started to drop over the past months, probably because of pressure from authorities. Banks in the US, Europe, and other places have cut their ties with Binance and rumors are saying that the DOJ may soon file criminal charges against Binance and CZ.

To sum it up, Binance is in trouble as its top leaders quit over how the company is dealing with the DOJ investigation. These key people leaving Binance's law and rules-following departments have shaken the company. 

Despite these leaders leaving, Binance has not yet responded.