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Binance's Head of Product Departs as Executive Exodus Gathers Steam
Mayur Kamat's departure follows those of Chief Strategy Officer Patrick Hillmann, Senior Director of Investigations Matthew Price, SVP for Compliance Steven Christie and Asia-Pacific Head Leon Foong.
Updated Sep 4, 2023, 10:25 a.m. Published Sep 4, 2023, 8:58 a.m.
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Binance has seen another senior executive depart the company, with Global Product Lead Mayur Kamat heading for the door after almost a year and a half at the cryptocurrency exchange.
"We can confirm that Mayur has stepped down from his role as product lead," a spokesperson said in an emailed statement. "We are grateful to him for helping guide Binance through some of our most explosive growth and we wish him the very best."
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A former vice president of product at travel agent Agoda, Kamat joined Binance in April 2022.
Kamat's departure follows those of Chief Strategy Officer Patrick Hillmann, Senior Director of Investigations Matthew Price and SVP for Compliance Steven Christie, who left the company in early July. Leon Foong, head of Asia-Pacific, resigned last week, Bloomberg reported Aug. 31.
Their departures were linked to the way founder Changpeng "CZ" Zhao responded to the investigation of Binance by the U.S. Department of Justice, according to reports. CZ described the reports as "FUD" (fear, uncertainty and doubt).
Kamat's departure was reported earlier by The Block.
Read More: Binance to Shut Down Crypto Payments Service Amid Refocus On Core Products
UPDATE (Sept. 4, 10:25 UTC): Adds Foong's departure in fifth paragraph.
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