Kraken’s compliance lead shifts over to crypto exchange Binance

Quick Take

  • Crypto exchange Binance hired competitor Kraken’s compliance lead in May, new reports reveal.
  • Binance is beefing up its compliance team to meet regulatory standards.

Crypto exchange giant hired Steven Christie to lead its compliance efforts after five years working at rival exchange Kraken as senior vice president of compliance. 

Christie transferred over to Binance back in May and is now leading a team of 750 people. Binance founder and CEO Changpeng Zhao confirmed that Christie has been working with them for several months after the Wall Street Journal published the news Friday. 

CZ indicated that the company is still seeking to fill several hundred more compliance positions. Binance's move to expand its compliance team follows a series of warnings from regulatory authorities around the world. 

This week, the exchange announced a new global advisory board to emphasize its “commitment to compliance”.

Kraken has also had an eventful week, with Jesse Powell stepping down as CEO and making way for David Ripley, the exchange’s former COO, to take his place in the months ahead. Powell will stay on as chairman of the exchange's board of directors. 

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