Binance France’s general manager has announced her resignation after serving in her position for one year and six months. This departure adds to the list of senior executives who have left the largest crypto exchange this year. Stéphanie Cabossioras stepped down as the General Manager of Binance France on October 18, becoming the fifth senior executive to leave the company since July.
The news was confirmed by David Prinçay, president of Binance France, who expressed his gratitude for Cabossioras’ work and wished her success in her future endeavors. Cabossioras joined Binance in April last year as the head of legal for the exchange in the region and later became the General Manager for the French unit. Her arrival coincided with Binance’s decision to establish a European hub in Paris. Prior to joining Binance, Cabossioras served as the deputy general counsel at France’s markets regulator.
This resignation follows a series of senior leadership departures under CEO Changpeng Zhao, including the Head of Product, Chief Strategy Officer, General Counsel, and the Asia-Pacific Leader. These departures coincide with several lawsuits filed against Binance and its CEO, accusing the company of mishandling customer funds and providing false information to regulators. Binance is under regulatory scrutiny in France, facing an investigation for alleged illegal provision of digital asset services and money laundering.
The company has also encountered regulatory issues in multiple European nations, leading to service suspensions and withdrawal of regulatory applications. Binance’s legal challenges have escalated with lawsuits filed by U.S. regulators, and Binance.US has suspended U.S. dollar withdrawals. Despite these obstacles, the company continues to expand its presence in France, creating job opportunities and investing in the country’s blockchain ecosystem.