Binance.US, the US-based branch of the cryptocurrency exchange, has reportedly laid off approximately one-third of its workforce, or 100 employees, and its CEO Brian Shroder has also left the company. According to a Binance.US spokesperson cited by Bloomberg on September 13, Shroder was temporarily replaced by Chief Legal Officer Norman Reed.

Shroder's departure comes amid a series of regulatory actions taken against the company in recent months, including lawsuits filed by the Securities and Exchange Commission and the Commodity Futures Trading Commission against Binance, Binance.US, and co-founder Changpeng "CZ" Zhao. Binance.US has not yet responded to a request for comment.