Stéphanie Cabossioras has made the decision to step down from her position as the Executive Director of Binance France, becoming the latest in a series of senior executives to leave the cryptocurrency exchange in the course of this year.
The announcement of Cabossioras’ departure was confirmed by Binance France resident David Prinçay in a post made on X (formerly known as Twitter) on October 19. Prinçay expressed his appreciation for Cabossioras’ contributions during her tenure at the exchange.
“We thank Stéphanie for her strong contribution to Binance France and wish her the best for her next challenge,” Prinçay wrote.
Stéphanie Cabossioras initially joined Binance in April 2022, taking on the role of Head of Legal for the French division of the crypto exchange. In November of the same year, she was promoted to the position of Executive Director.
A spokesperson from Binance has informed Cointelegraph that the exchange’s operations in France are continuing to grow, and Cabossioras’ departure will have no impact on its operations.
Before her tenure at the crypto exchange, Cabossioras held the position of General Counsel at Autorité des Marchés Financiers, the organization responsible for much of the financial regulation in the Canadian province of Quebec.
Binance’s France division became the subject of a local investigation in June, with the Paris Prosecutor’s Office citing “acts of aggravated money laundering” among other charges as the basis for the investigation.
Cabossioras’ departure adds her name to a growing list of at least ten senior executives who have left Binance throughout the year. On July 6, three executives, including Chief Strategy Officer Patrick Hilman, General Counsel Han Ng, and Binance’s Global Vice President of Marketing and Communications, Steve Milton, announced their respective departures.
Binance CEO Changpeng “CZ” Zhao addressed these departures on July 7, describing them as normal components of the company’s evolution while dismissing reports on them as FUD, which stands for “fear, uncertainty, and doubt.”
Binance has faced an increasing number of legal challenges from regulators in the United States, including high-profile lawsuits. In March, the Commodity Futures Trading Commission (CFTC) sued CZ, Binance, and its affiliates for alleged trading violations. In June, the U.S. Securities and Exchange Commission (SEC) initiated legal proceedings against CZ, Binance, and its affiliates, alleging that the company operated as an unregistered securities broker, among other charges.
