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Binance’s global head of product, Mayur Kamat, has resigned amid a string of executive exits and job cuts at the cryptocurrency exchange, a spokesperson for the company said.
Kamat’s exit follows a recent executive exodus from Binance that includes Chief Strategy Officer Patrick Hillmann and General Counsel Hon Ng.
The cryptocurrency exchange has lately been under heavy regulatory scrutiny in the United States, where regulators aggressively clamp down on what they deem are illegal activities.
Read more: French data watchdog conducts ‘checks’ at Worldcoin Paris office
The Securities and Exchange Commission (SEC) sued Binance and CEO Changpeng Zhao in June for allegedly operating a “web of deception,” listing 13 charges, including claims the company artificially inflated its trading volumes, diverted customer funds and failed to restrict U.S. customers from its platform.
Binance has said it would defend itself vigorously.