Stéphanie Cabossioras, the former executive director of Binance France, has recently stepped down from her position, making her the 10th senior executive to leave Binance this year. The news of Cabossioras’ departure was confirmed by David Prinçay, the President of Binance France, in an October 19 post on X. Prinçay expressed his gratitude for Cabossioras’ work at the exchange and wished her the best for her future endeavors.
Cabossioras initially joined Binance in April 2022 as the head of legal for the French arm of the crypto exchange. In November of the same year, she was promoted to the position of Executive Director. Despite her departure, Binance reassured that its operations in France continue to grow and that Cabossioras’ exit has had no impact on the company.
Before joining Binance, Cabossioras served as the General Counsel at Autorité des marchés financiers, the organization responsible for financial regulation in the Canadian province of Quebec. Her extensive legal experience in the financial sector made her a valuable asset to Binance France.
However, it is worth noting that Binance’s France arm has faced regulatory scrutiny and investigation. In June, the Paris Prosecutor’s Office launched an investigation into Binance France, citing “acts of aggravated money laundering” and other charges. This investigation has added to the challenges faced by the exchange in the French market.
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Cabossioras’ departure adds her name to a growing list of senior executives who have left Binance this year. In July, three executives, including chief strategy officer Patrick Hilman, general counsel Han Ng, and Steve Milton, Binance’s global vice president of marketing and communications, announced their departures. Binance CEO Changpeng Zhao, also known as CZ, addressed these departures, describing them as normal for a company’s evolution and dismissing reports about them as “fear, uncertainty, and doubt” (FUD).
Binance’s legal troubles have been further exacerbated by high-profile lawsuits and regulatory actions in the United States. In March, the Commodities Futures Trading Commission filed a lawsuit against Binance, CZ, and their affiliates, alleging a series of trading violations. The Securities and Exchange Commission also filed a lawsuit in June, accusing CZ, Binance, and its affiliates of operating as an unregistered securities broker.
Despite these challenges, Binance continues to be one of the largest and most influential players in the cryptocurrency industry. The exchange has experienced significant growth in recent years, expanding its workforce from 30 to 8,000 employees in just six years. CZ remains optimistic about the future of the company and believes that its continued success will overcome any obstacles it may face.
In conclusion, Stéphanie Cabossioras’ departure from Binance France highlights the turnover of senior executives within the company. Despite the challenges and legal issues faced by Binance, the exchange remains resilient and focused on its growth in both the French and global markets.
