Stéphanie Cabossioras, who served as the executive director of Binance France, has recently resigned from her role, marking at least the 10th executive departure from Binance this year. The news of Cabossioras' departure was confirmed by David Prinçay, a resident of Binance France, in a post on the social media platform, X (formerly Twitter). Prinçay expressed gratitude for Cabossioras' contributions to Binance France and extended best wishes for her future endeavors.
Cabossioras initially joined Binance in April 2022 as the head of legal at the exchange's French division. She was later promoted to the position of executive director in November of the same year. A spokesperson for Binance assured that the French operations of the exchange continue to thrive, and Cabossioras' departure is not expected to impact the business.
Prior to joining Binance, Cabossioras held the role of general counsel at the Autorité des Marchés Financiers, the regulatory authority responsible for financial oversight in the Canadian province of Quebec. In June, the Paris prosecutor's office initiated an investigation into Binance France, focusing on allegations of "serious money laundering."
Cabossioras' resignation adds to a growing list of executive departures from Binance in 2023. Earlier in the year, on July 6, three executives announced their exits, including Chief Strategy Officer Patrick Hilman, General Counsel Han Ng, and Binance Vice President of Global Marketing and Communications Steve Milton. Binance CEO Changpeng "CZ" Zhao addressed these departures on July 7, characterizing them as a normal aspect of the company's evolution while dismissing them as "FUD," an abbreviation for "fear, uncertainty, and doubt."
Binance has faced increasing legal challenges, with U.S. regulators filing several prominent lawsuits against the exchange. In March, the Commodity Futures Trading Commission (CFTC) filed a lawsuit against CZ, Binance, and affiliated entities, alleging a series of trading violations. In June, the U.S. Securities and Exchange Commission (SEC) initiated its own legal proceedings against CZ, Binance, and related entities, alleging that they operated as unregistered securities broker-dealers.
