Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Friday, July 7th, and today we're talking about Binance executives

absolutely racing for the exit. Before we get into that, however, if you are enjoying the breakdown,

please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper

into the conversation, come join us on the Breakers Discord. You can find a link in the show notes

or go to bit.ly slash breakdown pod. Well, friends, I had a plan for the next couple of days.

I was going to do a whole episode about the Block 5 bankruptcy and about how everyone hates that.

And then maybe we were going to do a weekly recap about Circle moving into Japan and what

that might mean and maybe some other international

catch-ups. But then, as so often happens, the industry just slammed a totally different set of

priorities. On Thursday afternoon, Fortune magazine's Jeff John Roberts mentioned here

specifically as someone who is a historically credible source, rocked the crypto industry

with news that

multiple senior executives had resigned at Binance. The choice of headline from the typically

even-handed publications set the tone. They wrote,

Binance plunges into crisis as senior execs quit over CEO CZ's response to Justice

Department investigation. So according to the Fortune article,

at least three major figures within Binance have now left the exchange this week. That includes

the top lawyer at the firm, General Counsel Han Ing, Chief Strategy Officer and very overworked

crisis communications manager Patrick Hillman, and SVP of compliance, Stephen Christie. Global Vice President

Stephen Milton also left the company in June, according to his LinkedIn profile.

...