Binance Brazil’s Director Resigns After Six Months

Ricardo Da Ros, director of Binance Brazil, announced his resignation Wednesday after six months at the company.

Da Ros told CoinDesk that he was not able to achieve what he wanted within his first six months, so he made the decision to leave. The now-former exec said he spent a few weeks transitioning away from the role, rather than departing abruptly.

"I believe Binance is a great company with a lot of potential," he said. "... My view of the timing was not the same as Binance's, so I respected it and moved on. I'm sure they will implement everything in due time and I wish them the best."

In a LinkedIn post, he added that “there was a misalignment of expectations about my role and I made the decision according to my personal values.”

The executive also said he hopes “that Binance becomes an example for the global crypto-asset market.”

“I just wish them luck in their next steps so that the company can follow a positive path in the Brazilian market,” he added.

Before joining Binance in January Da Ros had launched, in 2019, the Brazilian operations of the Argentine crypto exchange Ripio, according to his LinkedIn profile.

A Binance spokesperson called Da Ros's departure a mutual decision, adding, "We are grateful for the work and contribution made by Ricardo during his time at Binance and we wish him well in his future endeavors."

Da Ros pushed back, saying "the departure was my decision, I resigned," though he said the timing was agreed to by both parties.

UPDATE (July 16, 2021, 14:30 UTC): Updated with additional statements from Da Ros and comments from a Binance spokesperson.