CZ's Next Big Move? Binance.US Appoints Former PayPal Exec As CFO

Binance.US BNB/USD has appointed Jasmine Lee, ex-Paypal PYPL Holdings executive, as its Chief Financial Officer.

On July 7, Binance.US announced former PayPal executive Jasmine Lee to be its new CFO.

According to Reuters, Lee took the position from interim CFO Eric Segal, who was appointed his role in October. Binance.US’s announcement comes amidst a time of market crisis, with the cryptocurrency sector having over $2 trillion of capital wiped out of the market. Following global fears of an impending recession and a fearful macroeconomic climate, the latest crypto crash has caused near-bankruptcy for numerous crypto firms as well as large-scale expenditure cutbacks for many.

Binance.US is the U.S.-based partner of Binance, the world’s largest cryptocurrency exchange. The firm, in these turbulent market conditions, has continued its expansionary measures, with large-scale new hires and new partnerships being announced.

Therefore, Lee’s appointment as Binance.US’s CFO displays the exchange’s continual endeavor to expand and grow, despite the current market climate.