The head of Binance’s U.K. operations left the company last month, joining a growing list of senior executives leaving the biggest cryptocurrency exchange in the world.
According to his LinkedIn profile, Jonathan Farnell, the former CEO of Binance U.K. and CEO of its payment service Bifinity (which was dissolved in August), departed the company in September.
In an email statement, Binance said, “We’d like to thank Jonathan for his contributions and wish him all the best on his next challenge.”
In accordance with the terms of a loan agreement, Farnell joined Binance in May 2021 and became CEO of Eqonex, the holding company of cryptocurrency custodian Digivault, the following year. This gave Binance the authority to name a CEO from within Bifinity.
At the time, Bifinity was interested in purchasing Eqonex, but the deal fell through, and in November 2022, Eqonex voluntarily entered liquidation.
According to Farnell’s LinkedIn profile, he seemed to be working as the CEO of Eqonex in addition to being employed by Binance. The most recent high-profile exit from Binance occurred earlier this month with the loss of Global Product Lead Mayur Kamat.
This came after the departure of SVP for Compliance Steven Christie, Senior Director of Investigations Matthew Price, and Chief Strategy Officer Patrick Hillmann from the company at the beginning of July.