Share this article
Binance Sees Another High-Profile Departure as Former Head of UK Moves On
Jonathan Farnell, who served as head of Binance U.K. and CEO of its payment service Bifinity – which was disbanded in August – left the firm in September.
Updated Oct 24, 2023, 9:47 a.m. Published Oct 24, 2023, 9:38 a.m.
Binance lost its head of U.K. operations last month, continuing a stream of high-level execs heading for the door at the world's largest crypto exchange.
Jonathan Farnell, who served as head of Binance U.K. and CEO of its payment service Bifinity (which was disbanded in August) left the firm in September, according to his LinkedIn profile.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"We'd like to thank Jonathan for his contributions and wish him all the best on his next challenge," Binance said in an emailed statement.
Farnell joined Binance in May 2021, and the following year, he took up the position of CEO of Eqonex, the holding company of crypto custodian Digivault as per the terms of a loan agreement, which gave Binance the right to appoint a CEO from within Bifinity.
Bifinity was looking to acquire Eqonex at the time, but it fell through, and Eqonex entered voluntary liquidation in November 2022.
Farnell appeared to serve as Eqonex CEO concurrently with his employ at Binance, according to his LinkedIn profile.
Binance has suffered a number of high-profile departures in recent months, most recently losing Global Product Lead Mayur Kamat earlier this month. This followed Chief Strategy Officer Patrick Hillmann, Senior Director of Investigations Matthew Price and SVP for Compliance Steven Christie, who all left the company in early July.
Read More: FTX Used Billions in Customer Funds to Buy Back Binance Stake
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Pakistan, Binance Sign MOU to Explore Tokenization of $2B in State Assets: Reuters
The agreement comes as Pakistan accelerates the rollout of a formal crypto regulatory framework and explores blockchain-based distribution of government-owned assets.
What to know:
- Binance plans to tokenize up to $2 billion in bonds, treasury bills, and commodity reserves in Pakistan.
- The initiative is part of Pakistan's effort to use blockchain technology to attract foreign investment and enhance liquidity.
- Pakistan's regulatory actions align with global trends as countries like the UAE and Japan expand crypto exchange licensing rules.
Top Stories
