The director of Binance France has resigned, adding to the list of exits from the crypto exchange

Stephanie Cabosioras has stepped down as CEO of Binance France, becoming at least the 10th senior executive to leave Binance this year.

On October 19, on X (formerly known as Twitter), David Prince of Binance France confirmed Cabocioras' resignation and thanked her for her work on the exchange.

We thank Stephanie for her strong contribution to Binance France and wish her the best in her future endeavors.

— David Princay (@davidprincay) October 18, 2023

“We thank Stephanie for her strong contribution to Binance France and wish her the best in her next challenge,” Princi said.

Cabosioras first joined Binance in April 2022, serving as head of legal for the crypto exchange's French arm, before being promoted to executive in November of that year.

A Binance spokesperson told Cointelegraph that its France-based operation continues to grow and that Cabocioras' departure “has not had any impact on its operations.”

Prior to joining the crypto exchange, Cabocioras was chief counsel at the Autorité de Marches Financiers, the organization responsible for most financial regulation in the Canadian province of Quebec.

Related: Middle East regulatory transparency spurs crypto industry growth – Binance FZE Head

Binance’s France arm fell under a local investigation in June, with the Paris prosecutor’s office citing “aggravated money laundering practices” among many other charges as the basis for the investigation.

With her departure, Cabossioras adds her name to the list of at least 10 top executives to leave Binance this year alone.

In the year On July 6, three executives announced their departures, Chief Strategy Officer Patrick Hillman, General Counsel Han Ng, and Binance Vice President of Global Marketing and Communications Steve Milton.

Binance CEO Changpeng “CZ” Zhao announced these origins in 2018. FUD, short for “fear, uncertainty and doubt,” he said on July 7, saying they were part of the company's evolution and dismissing reports against them.

4. More FUD about some origins. Yes, there is rotation (in every company). But the reasons they saw “News” are completely wrong.

A company that grew from 30 to 8000 people in 6 years, from 0 to the world's largest crypto exchange in less than 5 months…

— CZ Binance (@cz_binance) July 6, 2023

Binance's legal woes have worsened following several high-profile lawsuits filed by regulators in the United States. In March, the Commodity Futures Trading Commission sued CZ, Binance and its affiliates for a series of trade violations.

In June, the US Securities and Exchange Commission launched its own legal proceedings against CZ, Binance and its affiliates for being unregistered securities brokers and other charges.

Magazine: How to protect your crypto in a volatile market — Bitcoin OGs and experts weigh in.