Binance US announced on Thursday that Krishna Juvvadi has joined the company as vice president and head of law. Juvvadi comes to the exchange forum from Uber, where he was the global head of operations compliance. Early in his career, he worked as a trial attorney for the US Department of Justice’s Civil Rights Division.
Juvvadi will oversee the legal department’s day-to-day operations at the company’s US base. Norman Reed, who joined the firm’s US base as general counsel in December and has past experience with the Securities and Exchange Commission, the Federal Reserve Bank of New York, crypto, and fintech, will be his boss. Brian Shroder, CEO of Binance US, said in a statement,
“We recognize the importance of remaining responsive to and complying with the evolving rules and regulations governing the crypto ecosystem, and we continue to attract and invest in top legal and compliance talent to ensure this priority remains at the forefront of our operations.”
According to local media, Juvvadi has not replaced anyone because the head of legal is a freshly created post at the company’s US headquarters.
The company has been active in hiring employees who have previously worked for the government. The two organizations have hired over a dozen similar recruits in recent weeks and months, including Krishna, Reed, Steven McWhirter, and Stephanie Cabossioras.
Binance delists LUNA and UST trading
Binance has removed itself from the list of cryptocurrency exchanges trading UST and LUNA. Following the disastrous plunge of the algorithmic stablecoin, the worldwide cryptocurrency exchange has suspended trading pairs with the Terra ecosystem’s cryptocurrencies.
On May 13, Binance stated that spot trading for the LUNA/BUSD and UST/BUSD trading pairs would be suspended. It’s unclear when withdrawals will restart, as the crypto exchange only recently stated that it will wait until the Terra network issues were rectified before proceeding.
It is the latest action by the world’s largest cryptocurrency exchange by trading volume, following one of the most dramatic black swan events to influence the sector since the inception of Bitcoin (BTC) in 2009.