Patrick Hillmann confirmed in a tweet that would be departing the company "on good terms" after a two-year stint. The departure comes amid a trying time for Binance.
Binance's chief strategy officer Patrick Hillmann has confirmed he is leaving the crypto exchange amid reports that other top executives in the United States have been departing as a result of a Department of Justice (DOJ) investigation.
On July 6, Patrick Hillmann tweeted "I am leaving [Binance], but I’m doing so on good terms."
"I’ve been here for two years and it’s simply time for me to move on to the next challenge," added Hillmann, noting that he is now expecting his second child, "so the time is right for me to step aside."
Apologies for any typos, but I was not expecting to be tweeting about this today.
— Patrick Hillmann (@PRHillmann) July 6, 2023
It’s true that I am leaving @Binance, but I’m doing so on good terms. I continue to respect and support @cz_binance and am grateful for having had the incredible opportunity to work under his…
The tweet follows a report from Fortune, citing a person at the exchange familiar with the situation, that several Binance executives including Hillmann left the exchange over CEO Changpeng "CZ" Zhao's response to the DOJ's investigation.
General counsel Han Ng and senior vice president for compliance Steven Christie were reported to have left the exchange.
A separate report from Bloomberg, also citing a source, stated that Binance's head of legal for APAC and MENA, Eleanor Hughes, will become the new general counsel replacing Ng, while Noah Perlamn, who joined as chief compliance officer in February, will remain at the company.
Cointelegraph contacted Binance for comment but did not immediately receive a response.
Related: Binance refers users to Coinmerce as exchange exits the Netherlands
The DOJ is reportedly investigating Binance for allowing Russians to use the exchange in violations of U.S. sanctions.
In June, the Securities and Exchange Commission (SEC) sued Binance for allegedly offering unregistered securities and misusing customer funds among other charges.
The Commodities Futures Trading Commission (CFTC) also sued Binance in March for allegedly failing to properly register with the regulator.
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