In the wake of their settlement with SEC, Binance has been carrying out a series of layoffs in recent weeks, resulting in the potential loss of over a third of its workforce. Additionally, several executives, including Chief Strategy Officer Patrick Hillmann, resigned from Binance last week.
Last month, Binance and its CEO Changpeng Zhao were sued by U.S. regulators, who accused the exchange of engaging in deceptive practices. Binance has asserted its intention to vigorously defend itself against these allegations but you know a sinking ship when you see one.
