Bill Qian, Head of Binance Labs, Quits His Position
This is the second resignation of top Binance (BNB) officials in recent weeks
As noted by Chinese journalist and insider Colin Wu, Binance Labs is currently headed by a Boston Consulting Group veteran.
Two executives have left Binance’s VC department in recent weeks
Mr. Wu shared on Twitter the details of pivotal layoffs at Binance Labs, a company that coordinates Binance’s VC efforts in crypto.
Following the departure of Bill, the former head of Binance Labs, Binance’s investment division will be temporarily led by: @kenkxli† He graduated from Harvard, joined BCG in 2017 and joined Binance in 2021. Bill posted on June 4 that he will continue to work as an investor in WEB3. https://t.co/pgQdQbl1HW
— Wu Blockchain (@WuBlockchain) June 4, 2022
Bill Qian, the head of Binance Labs, posted today, June 4, 2022, that he will continue his career in Web3 as an investor. He joined Binance Labs in March 2020; therefore, all the critical investments the company has made are related to its leadership.
Nicole Zhang, executive director of Binance Labs, also retired in May 2022, according to her LinkedIn page. Ms. Zhang had also started working there in March 2020.
After the resignations of two key figureheads, Binance Labs is temporarily led by Harvard graduate and BCG alumni Ken Li.
Hiring freeze speeds up in Web3
Amid a severe correction in the cryptocurrency market, many industry heavyweights are cutting their recruiting campaigns. As previously described by U.Today, the leading US-based CEX Coinbase is even withdrawing job openings for employees who have not yet started working.
Earlier, the company released a statement to emphasize that it would reassess its recruiting campaign “against the company’s highest priority goals”.
Similar measures were imposed by Gemini, a top-level crypto ecosystem led by the Winklevii twins, as “crypto winter is here”.
Binance Coin (BNB), a native utility token of the Binance ecosystem, sank below the critical level of $300.