Today Binance.US announced that former Comptroller of the Currency Brian Brooks would become CEO of the cryptocurrency exchange effective May 1. While at the OCC, Brooks issued interpretive letters that allowed banks to custody digital assets, hold stablecoin reserves and participate in stablecoin networks. He departed the OCC on January 14.
Before Binance.US, Brooks was Chief Legal Officer at cryptocurrency exchange Coinbase for 19 months. Brooks’ stint at the OCC was personally very expensive given Coinbase’s recent stock market listing. As a federal officer, Brooks had to sell any sensitive assets. Meanwhile, his successor at Coinbase, Paul Grewal, was worth $300 million on the day that Coinbase listed. When Brooks departed Coinbase he received $4.6 million for canceling his options agreement. That’s a nice chunk of money, but compared to Grewal’s figure, that’s a big ouch!
Can we see a future Binance listing in the tea leaves?
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