Binance Recruits New CFO Igniting Rumours The Exchange Is Going Public

Leading cryptocurrency exchange Binance has recruited yet another high profile individual with extensive knowledge and experience in initial public offerings (IPOs) as its Chief Financial Officer (CFO).

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Leading cryptocurrency exchange Binance has recruited yet another high profile individual with extensive knowledge and experience in initial public offerings (IPOs) as its Chief Financial Officer (CFO).

Binance recruits new experienced CFO

Wei Zhou is the latest high profile addition on Blockchain and crypto asset exchange Binance. Zhou has joined the leading global exchange as the CFO.

Zhou is a Harvard University graduate from the Department of Economics and East Asian Studies, Wei Zhou is currently the vice chairman of LGBT dating platform for men Grindr.

The new CFO of Binance, Zhou, has particular expertise in growing and scaling business operations, working extensively in the United States and China.

Zhou’s career began at the Hong Kong subsidiary of Goldman Sachs, where he focused on investment banking.

Zhou later served as the Chief Financial Officer of Charm Communications, a Chinese TV advertising firm, and Zhaopin.com, China’s second-biggest online recruitment services platform.

Under Zhou’s management, these firms were successfully listed on the NASDAQ and the New York Stock Exchange (NYSE), respectively.

Binance going public?

Following the recruitment of Zhou, who has an impressive portfolio in growing and scaling business operations, there have been speculations that Binance is preparing for an IPO.

Although the rumors exist, the CEO of Binance, Changpeng Zhao, has denied this while not dismissing the fact that the relatively young cryptocurrency sector could benefit from the fundraising model.

Changpeng Zhao wrote on Twitter:

#Binance have no plans for IPO, but that doesn’t make those experiences less valuable in our new industry. On the contrary, those are very much needed. We are always looking for top talent, from traditional finance, internet … any industry and anywhere in the world!

The nascent industry and Wall Street employees

The recruitment of an ex-Goldman Sachs employee by Binance is not the first time a cryptocurrency firm has recruited an executive with experience from the traditional finance sector.

Many individuals and firms from the Wall Street are beginning to take interest in cryptocurrencies, or the underlying blockchain technology.

Last month, U.S. cryptocurrency exchange Coinbase announced the appointment of Jeff Horowitz, an alumnus of Bank of New York Mellon, to lead the company’s global compliance efforts.

Earlier this month, CCN reported that the Japanese crypto startup FXcoin announced that they had recruited a former foreign exchange dealer at Deutsche Bank, Yasuo Matsuda, as the firm’s senior strategist.

Coincidentally too, the founder of the Japanese crypto startup, Tomoo Oshi has a background in traditional finance, having worked as the head of currency sales at the same German banking giant from which their latest hire came.

Although Zhao has debunked the idea of an IPO now, the hiring of a CFO with significant capital markets experience taking multiple companies through the IPO listing process could be an indication that Binance is considering an IPO, for the future at least.

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