Two key executives depart amid major regulatory challenges
Binance, the popular cryptocurrency exchange, is facing a setback as two key executives responsible for the Russian market have announced their departure. The news comes as Binance grapples with regulatory challenges and sanctions.
Gleb Kostarev steps down as vice president
Gleb Kostarev, who served as head of Eastern Europe and Russia at Binance, took to Facebook on September 6 to announce his departure. In his announcement written in Russian, Kostarev revealed that his long-running stint at Binance has come to an end. He stated that he is stepping down as vice president responsible for Eastern Europe, the Commonwealth of Independent States (CIS), Turkey, Australia, and New Zealand. Kostarev also mentioned stepping down from his role in the Asia-Pacific region a few months prior. Expressing gratitude to Binance CEO Changpeng "CZ" Zhao and co-founder He Yi, Kostarev thanked them for the opportunities they provided. He also acknowledged the hard work of the local initiative teams and their amazing campaigns at the grassroots level.
Vladimir Smerkis also bids farewell
Vladimir Smerkis, the general manager for Russia and CIS at Binance, also announced his departure on Facebook. He stated that almost two years had passed "in the blink of an eye" and that he would no longer be working at Binance from the following day.
Both executives did not provide specific reasons for leaving their positions at Binance. However, Smerkis mentioned that he would reveal more about the reasons for his departure, as well as his future and experience, at a meeting in Moscow in a few weeks. He also hinted at taking a long-overdue vacation and promised to share photos and advice with his followers.
Concerns from the Russian cryptocurrency community
The departure of the two executives from Binance has sparked concerns within the Russian cryptocurrency community. Many users took to the comments section of their announcements to question whether Binance would be leaving the market. This comes after Binance recently hinted at the possibility of withdrawing its services from Russia due to Western sanctions.
