Alex Chehade, the Normal Supervisor of Binance FZE in Dubai, will depart from the crypto asset trade on the finish of July, Zawya reported, citing sources accustomed to the matter. Chehade, who performed a pivotal function in securing the Dubai Digital Belongings Regulatory Authority (VARA) license, has been with Binance for 2 years.
Chehade joined Binance FZE in June 2022, and below his management, Binance FZE secured the VARA license in April, positioning the corporate amongst 18 different organizations authorized as Digital Belongings Service Suppliers (VASP) by the Dubai regulatory authority.
Sources informed the media publication that Chehade was seen as a possible future board member of Binance, making his departure surprising. His management was reportedly vital in establishing Binance’s presence within the UAE, a area that has more and more develop into essential for the digital belongings market.
Chehade’s departure underscores the dynamic nature of the digital belongings trade, the place regulatory achievements and management adjustments incessantly reshape the panorama. As Binance FZE seems to be forward, the main target will possible stay on consolidating its regulatory good points and increasing its market presence within the Center East.
Anticipate ongoing updates as this story evolves.