CZ Criticizes Media for Producing FUD on Binance Senior Executives' Departure

After Fortune reported that three Binance senior officials resigned this week, CZ made a response on Twitter, criticizing the media for producing FUD and saying that the departures were just a normal turnover.

According to Fortune, Binance's General Counsel Han Ng, Chief Strategy Officer Patrick Hillmann, and Senior Vice President for Compliance Steven Christie have resigned, and it has something to do with CZ's response to an ongoing investigation by the U.S. Department of Justice. Speaking of the matter, CZ said,

"4. More FUD about some departures. Yes, there is turnover (at every company). But the reasons dreamed up by the “news” are completely wrong.

"As an organization that has grown from 30 to 8000 people in 6 years, from 0 to the world’s largest crypto exchange in less than 5 months from founding (and HELD ON to that position ever since), we have been able to protect our users at all times and we have been extremely lucky to have some of the best talent the planet has to offer.

"As markets and the global environment for crypto changes, as our organization evolves, and as personal situations change, there is turnover at every company. We thank all of our ex-team members for their contributions to our growth, and wish them all the best. We also congratulate our team members who have grown into these new roles. They are all truly high caliber.

"We continue to BUILD, and continue to hire."

In the comment section, CZ clarified it was false to say that three executives resigned in the same week. "Only one this week," he said.

In addition, Patrick Hillmann said on Twitter that the reason he resigned was that his wife is going to give birth to their second child, "it's true that I am leaving Binance, but I'm doing so on good terms. I continue to respect and support CZ and am grateful for having had the incredible opportunity to work under his leadership."

Related: Binance's General Counsel, Chief Strategy Officer, and Senior Vice President for Compliance Resigned