July 7 (Reuters) - Binance.US, the U.S. partner of the
world's largest cryptocurrency exchange, named former PayPal
Holdings executive Jasmine Lee as its chief financial officer on
Lee most recently served as the CFO and chief operating
officer of investing application Acorns. Before that, she spent
eight years at PayPal in top executive roles.
Her appointment comes at a time when investors have been
dumping digital assets on fears that aggressive interest rate
hikes from global central banks would spark an economic
The crypto industry has also been in the crosshairs of
regulators who worry that the meltdown in the volatile market
could hit the broader financial sector. That has prompted a push
for more rules on the largely unregulated industry.
"Her experience at Paypal ... will be invaluable as we chart
our path to an IPO in the coming years," said Chief Executive
Brian Shroder in a statement.
Lee replaces interim CFO Eric Segal, who had held the role
since October and has now left the company, the Wall Street
Journal reported, citing a company spokesman.
Launched in 2019, Binance.US had fetched a pre-money
valuation of $4.5 billion in April when it raised $200 million
in a funding round.
Last year, the company's former chief executive Brian Brooks
resigned just three months after taking up the role.
(Reporting by Manya Saini in Bengaluru; Editing by Aditya Soni)