Encryption trading giant sued by the US, executives undergo major reshuffle to cope with regulatory pressure

Recently, a well-known Crypto Assets derivatives trading platform was sued by the U.S. Department of Justice and the Commodity Futures Trading Commission (CFTC). Subsequently, the platform's owners and operators issued an announcement, declaring significant personnel adjustments in the management.

The announcement stated that the company's founder and CEO, along with another co-founder and CTO who has been arrested, will resign from their current positions, effective immediately. In addition, a third co-founder will also no longer hold any executive positions within the group. Meanwhile, the company's business development director will also be leaving.

To fill the senior management vacancies, the company announced the appointment of two new executives. One is a former managing director of the Asia Pacific Compliance Department at Goldman Sachs, who joined the company in July 2019. She will serve as the interim CEO of the group and assume other operational responsibilities. The other executive, who has worked at Deutsche Bank, UBS, and Tower Research Capital, will take on the role of Business Director, responsible for managing client relationships and overseeing the platform's financial products.

This large-scale personnel change reflects the regulatory pressure and legal challenges faced by the company. As an important participant in the Crypto Assets industry, the future development and compliance strategy of this platform will be widely watched by the industry.