Stephen Gregory has been appointed as the new CEO of Binance US, taking over from Norman Reed who shifts to an advisory role. According to the latest announcement, Gregory brings extensive compliance credentials to the role, having previously served as CEO at Currency.com and compliance chief at CEX.IO. He also held the position of compliance officer at Gemini, providing the exchange with crucial regulatory experience as it pivots from survival mode to expansion. 'I am honored to lead the Binance.US team as we write the next chapter for the best platform for U.S. crypto investors,' Gregory stated in the announcement, referencing founder Changpeng Zhao's vision to make the US the crypto capital of the world.
The new CEO appointment comes as Binance US pivots from regulatory survival to aggressive growth strategy. The company announced plans to introduce services around decentralized finance (DeFi) and tokenized assets, alongside expanding crypto staking products and referral programs. As reported by industry analysts, tokenized assets represent the current exchange battleground, with competitors already offering digital tokens tied to stocks and yield-generation products beyond basic trading. Coinbase offers staking and derivatives, while Kraken provides futures and margin trading. The exchange needs differentiation to claw back market share lost during two years of regulatory paralysis.
Changpeng 'CZ' Zhao, the founder and former CEO of Binance, forcefully dismissed accusations that the cryptocurrency exchange facilitated transactions potentially enabling terrorism financing in Iran. Speaking remotely at the Digital Chamber's DC Blockchain Summit on Wednesday, CZ emphasized his complete disinterest in such activities. 'I have zero interest in doing that,' CZ stated, adding that he lives in a country currently being attacked by Iran. The UAE resident noted that even before recent tensions, he had no interest in such activities.
CZ provided specific financial reasons for why Binance would not be involved in Iran-related transactions. According to reports from CoinDesk, he argued that 'there's no benefit' for the exchange to handle such transactions, as they don't generate fees and wouldn't offer any business attraction. The former CEO referenced civil lawsuits recently dismissed in U.S. courts that had accused Binance of acting as a conduit for terrorism financing. CZ, who served a prison sentence and received a pardon from President Trump, defended the implications against his former company.
The leadership change comes as Binance US rebuilds after significant regulatory challenges. The exchange reinstated USD rails approximately one year ago after the SEC lawsuit forced it to suspend USD deposits and withdrawals for over a year. The company has also settled U.S. anti-money-laundering and sanctions-violation accusations in 2023, with CZ expressing frustration over ongoing accusations. 'The way they're attacking, they're completely using false, baseless information,' he stated, suggesting he has been targeted by false accusations. The exchange has taken legal action against media reports, suing the Wall Street Journal last week for reporting that it had fired compliance personnel who flagged suspicious transactions.