Binance.US, a United States-based digital asset marketplace, announced on Tuesday that it has hired Manuel ‘Manny’ P. Alvarez as the company’s Chief Administrative Officer, starting July 22. According to the press release, Álvarez comes from a background as a public servant, having worked as Commissioner of the California Department of Financial Protection and Innovation.
In the new role within the crypto firm, the new executive will be in charge of supervising risk, compliance, legal affairs, among other related tasks, through the United States, reporting directly to Brian P. Brooks, Binance.US’s Chief Executive Officer. “Manny is a highly respected senior government official and business executive with deep expertise in financial services regulation and technology. Compliance is the key to creating trust with both our customers and our regulators, which is why we are hiring recognized leaders in the field, such as Manny. He is that rare brilliant regulatory mind with a strong sense of law and compliance who also brings a strong technology and Silicon Valley perspective,” Brooks commented.
Binance.US Doubling Its Staff Headcount
On the other hand, the former Commissioner of the California Department of Financial Protection and Innovation seeks to leverage its knowledge in helping Americans “seeking to achieve financial freedom” through its new role at Binance.US. “I look forward to bringing this same relentless focus to the digital assets industry and Binance.US alongside Brian and the rest of the company’s talented team,” he added.
With Alvarez’s hiring, Binance.US doubled its workforce by adding 110 new employees on several fronts, including the regulatory, legal, compliance and customer support teams. “Manny left Affirm to answer the call to public service leading one of the most important financial regulatory agencies in the country. Manny’s leadership will be instrumental as Binance.US seeks to fulfil our vision of serving as the most beloved and dependable destination for cryptocurrency in America. It is a huge honor that Manny is joining us,” Binance.US’s CEO said.