🐉 BINANCE CFO EXITS 9 DAYS AFTER THE $6.3B HACK. PLANNED MOVE OR FALLOUT?
👉 Binance said on Nov 7 that CFO Kaiser Ng is leaving after more than five years, CFO since January 2022, to pursue a new venture
👉 Justin Yek, former VP of Finance at Airwallex, takes over as CFO immediately
👉 Co-CEO Yi He said the transition was planned over the last six months, which predates the hack
👉 The timing is the story. The exit comes nine days after the Oct 29 theft of about $6.3B, and after about $3.64B in net outflows in the first hours after withdrawals reopened
👉 The balance sheet case is stronger than the optics case. Binance says about 98% of the hack impact is replenished, and the zero-knowledge proof for its 44-token snapshot is live
👉 BTC is holding around $75,790, down about 0.2% in 24 hours, with Fear and Greed at 25, Extreme Fear, so the market is not panicking on this headline yet
👉 The test is what comes next. If the next PoR and audit cycle stay clean and no more senior names walk out, this fades fast. If another departure follows, the planned transition story falls apart
#BinanceSquare #Binance #BNB #BTC #Crypto
Trust is the balance sheet now.
👉 Binance said on Nov 7 that CFO Kaiser Ng is leaving after more than five years, CFO since January 2022, to pursue a new venture
👉 Justin Yek, former VP of Finance at Airwallex, takes over as CFO immediately
👉 Co-CEO Yi He said the transition was planned over the last six months, which predates the hack
👉 The timing is the story. The exit comes nine days after the Oct 29 theft of about $6.3B, and after about $3.64B in net outflows in the first hours after withdrawals reopened
👉 The balance sheet case is stronger than the optics case. Binance says about 98% of the hack impact is replenished, and the zero-knowledge proof for its 44-token snapshot is live
👉 BTC is holding around $75,790, down about 0.2% in 24 hours, with Fear and Greed at 25, Extreme Fear, so the market is not panicking on this headline yet
👉 The test is what comes next. If the next PoR and audit cycle stay clean and no more senior names walk out, this fades fast. If another departure follows, the planned transition story falls apart
#BinanceSquare #Binance #BNB #BTC #Crypto
Trust is the balance sheet now.