By
Steve Muchoki
April 24th, 2024
With his great experience, Sidney Majalya will be a great addition to Binance US arm. He will oversee risk and compliance issues and report to Binance.US’s CEO Brian Shroder.
Binance.US, the US arm of the largest cryptocurrency exchange platform Binance, has welcomed onboard Sidney Majalya, top compliance executive at Intel Corp. (NASDAQ: INTC). Majalya will serve as the company’s first Chief Risk Officer. He will join the Binance.US team starting from January 2022.
Join us in welcoming Sidney Majalya as Chief Risk Officer.
He'll join the team next month as part of our commitment to expand our world-class risk and compliance organization.
Learn more: https://t.co/O1HkVxuPHh pic.twitter.com/tjge8wa6B4— Binance.US 🇺🇸 (@BinanceUS) December 16, 2021
Brian Shroder, CEO of Binance.US, said:
“I am thrilled to welcome Sidney as the latest addition to our growing executive team, as we seek to further professionalize and build a world-class compliance and risk organization. In view of our focus to make Binance.US the most compliant and consumer-centric digital asset platform in the U.S., I know the organization will greatly benefit from Sidney’s tremendous experience, talent, and judgment.”
Currently, Sidney Majalya is Vice President Legal, Chief Compliance Officer & Group Counsel to Global Government Affairs at Intel Corporation. His key responsibilities include managing the company’s antitrust, anti-corruption, and other legal compliance risks on a global basis. He is also in charge of leading Intel’s ethics program and serving as co-chair for Intel’s Ethics & Compliance Oversight Committee (ECOC). Prior to Intel, he was the Head of Investigations, Legal Compliance and Global Compliance at Uber Technologies, Inc. (NYSE: UBER). Besides, Majalya worked as Sr. Compliance Counsel at Oracle Corporation.
Majalya said:
“I’m excited to be joining the team and energized by the company’s mission to create an inclusive crypto ecosystem at scale with the most advanced technology in the industry. Binance.US is deeply committed to compliance, and our priority is to maintain and grow a world-class compliance and risk organization that earns the utmost confidence and trust of our customers, investors, and regulators.”
With his great experience, Sidney Majalya will be a great addition to Binance US.arm. Majalya will oversee risk and compliance issues and report to Binance.US CEO, Brian Shroder.
Binance.US CEOs Turnover
This year, Binance US has expanded its executives headcount several times. Back in April, Binance.US welcomed Brian Brooks, the former Coinbase Inc (NYSE: COIN) executive who helmed the Office of the Comptroller of the Currency (OCC) under US President Donald Trump, as its new CEO. Brooks replaced Catherine Coley. Notably, at that time, he appeared to be a huge win for the company. However, his contribution to Binance US business was over just several months after joining.
In August, Brian Brooks left the CEO position at Binance.US as a result of “differences over strategic direction”. Notably, his departure came as Binance was facing intense scrutiny from regulators worldwide.
After Brian Brooks left, Binance.US was looking for a new CEO for some time. Finally, it hired Brian Shroder, an executive who had overseen operations in Asia for Uber and the Chinese fintech giant Ant Group. When joining the company, Schroder said he would try his best to guide Binance.US toward an IPO. In addition, he said the firm “has all the right ingredients to become the largest and most successful cryptocurrency and digital asset exchange in the United States.”