- Jo had just started working in the position in September.
- Johnson served formally as an adviser to Binance’s payments company, Bifinity.
Boris Johnson’s brother Jo has resigned from his position as an adviser to the Binance cryptocurrency trading platform. In addition, Lord Johnson of Marylebone’s official documents reveals that he just started working in the position in September.
The cryptocurrency market is in a volatile situation right now. And the business has been having problems even before Johnson resigned. In addition, Johnson’s possible assistance in the launch of Binance in the UK was highlighted.
Rough Year For the Sector
It has been a rough year for everyone in the cryptocurrency sector. The demise of the well-known FTX platform set off a chain reaction of problems for the industry as a whole. Now, with the criminal accusations against FTX’s creator, Sam Bankman-Fried, cryptocurrency platforms are being forced to embrace openness on a bigger level than previously before. The proof-of-reserves saga started post the FTX fiasco.
Boris Johnson’s brother, Jo, is reportedly leaving from his role as an adviser to Binance in light of the exchange’s recent difficulties and failings. The announcement came this week after serving for three months on the advisory board of a Binance affiliate.
Pressure over “the transparency of Binance’s finances” and a “deepening crisis in the cryptocurrency sector” led to the decision, as reported by The Telegraph. According to the article, Johnson’s involvement with the platform was spurred by Binance’s efforts to establish a foothold in the UK.
Johnson served formally as an adviser to Binance’s payments company, Bifinity. He joined Binance’s worldwide advisory board together with Lord Vaizey, a former technology minister.
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