Stéphanie Cabossioras, who served as the Managing Director of Binance France, has recently announced her resignation, making her the latest senior executive to depart from Binance this year.
Her departure marks at least the tenth high-ranking executive to leave the prominent cryptocurrency exchange during this period.
David Prinçay, the President of Binance France, confirmed Cabossioras’ departure and expressed his appreciation for her contributions.
He stated, “We thank Stéphanie for her strong contribution to Binance France and wish her the best for her next challenge.”
While the specific reason behind Cabossioras’ resignation remains undisclosed, there is widespread speculation that her decision may be linked to the ongoing regulatory challenges that Binance has been grappling with throughout Europe.
In June 2023, French authorities initiated an investigation into the operations of the French branch of Binance, raising concerns about potential illicit activities and money laundering.
Binance has encountered similar regulatory roadblocks in other European nations, which led to the suspension of some services and the withdrawal of applications in countries like the UK, the Netherlands, Belgium, and Germany.
The exchange has also found itself in several legal disputes in the US, facing accusations of operating an unregistered exchange, mishandling customer funds, and misleading investors.