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Boris Johnson’s brother quits as adviser to Binance unit
(Reuters) – Binance mentioned on Monday Jo Johnson, brother of former British Prime Minister Boris Johnson, had resigned from the UK advisory board of its unit, because the cryptocurrency business braces for additional ache within the aftermath of the FTX fiasco final month.
Johnson had joined Bifinity, a funds expertise firm that Binance launched in March this yr, as an adviser in September, in keeping with The Telegraph, which first reportedthe information of his exit.
Celebrities and different distinguished proponents of crypto have sought to distance themselves from the nascent asset class after Binance rival FTX filed for chapter final month following a liquidity crunch.
Crypto alternate Binance, nonetheless, steered Johnson stepped right down to handle his workload.
“Lord Johnson has just lately taken on the function of Government Chairman of FutureLearn. He can be specializing in his new function throughout the digital studying platform, and is trying to cut back different actions,” Binance mentioned in an emailed assertion.
A spokesperson for Johnson didn’t reply to Reuters requests for remark.
Reuters reported in October that Binance had sought methods to bypass regulatory scrutiny in Britain. Final yr, the nation s Monetary Conduct Authority (FCA) had additionally warned that Binance didn’t maintain any type of permission to supply providers regulated by Britain.
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