Mayur Kamat, the person in charge of products at Binance, has left the company. He is leaving because many important people are also leaving the company, which is being looked at more closely by regulators around the world. Kamat has been working at Binance for almost two years. He helped the company grow its user base from 80 million to over 150 million. Now, he has decided to leave his position.
Kamat thanked Changpeng Zhao, also known as CZ, and all the leaders at Binance. “I need to leave and let the next generation of leaders at Binance take over product leadership,” he said. Kamat said he worked closely with other product leaders to make sure the change went easily.
It is important to mention that Kamat has had a successful and long career in product development for 20 years. Before starting at Binance in January 2022, he worked as a manager at big tech companies like Google and Agoda. On his LinkedIn page, he shows that he was in charge of worldwide product and design groups at Binance.
Kamat bought his first two bitcoins in 2011. He was one of the first people to use it. He said he wasn’t buying it to make money, but to have a secure VPN connection.
He is leaving along with many other executives who have left Binance recently. A couple of weeks ago, Patrick Hillmann, who was the top planning officer at the company, also quit. Hillmann said he had personal reasons for leaving, but people in the industry think it might be because of investigations by the US Department of Justice. Han Ng, the company’s lawyer, and Steven Christie, a high-ranking executive, left the company in early July.
Binance is facing a tough time dealing with regulatory problems from different places as many people are leaving the company. Authorities all over the world are looking at the platform more closely and asking if it will still be around in the future.
Because Kamat has helped the company grow, his leaving is a big loss for Binance. In his goodbye message, he said, “Working at Binance has been an amazing experience and I’ve loved seeing our user base grow. ” He also promised to keep supporting Binance, just not as directly.
Mayur Kamat has decided to leave Binance, which is another important person to leave the cryptocurrency exchange. As the company deals with difficult rules and laws, it could face even more problems if important leaders leave. However, Kamat left in a friendly way, and he promised to continue supporting the company he played a part in creating.
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