CoinMarketCap execs resign four months after Binance acquisition
CoinMarketCap Chief Executive Officer Carylyne Chan and Vice President Spencer Yang have departed from the leading cryptocurrency price tracking company. In an open letter on her blog, Chan bid adieu to CoinMarketCap community after working with them for 2.5 years.
Chan hinted that she could soon begin a new venture of her own as she said that she will now explore other entrepreneurial endeavors. Meanwhile CoinMarketCap VP, Spencer Yang did not disclose his resignation but instead updated his twitter status as former VP of CoinMarketCap after retweeting Chan’s decision.
Today is my last day @CoinMarketCap. Thank you to all of you in the #crypto community who have been my peers and friends in the last 2.5 years! I'm grateful for the opportunity, and I'm looking forward to what's next! See my full post here: https://t.co/XJ2lPpV6UC
— Carylyne Chan (@carylyne) August 31, 2020
There is no mention of Yang’s future business plans on any of his social media accounts. Both Chan and Yang did not specify any reasons why they were leaving the company and they did not mention if other executives from CoinMarketCap were leaving with them.
However, crypto community is well aware of the fact that the executives quit after the cryptocurrency exchange Binance acquired CoinMarketCap. So far, both Binance and CoinMarketCap have not released a formal statement about Chan’s and Yang’s exits.
Chan joined CoinMarketCap as interim CEO after its founder Brandon Chez left the firm after the Binance acquisition. One of her first tasks was to improve the price tracker site’s branding and geographical reach. Chan said in her blog:
I told Brandon [Chez] that there is so much unfulfilled promise that CoinMarketCap needs to realize. There were many possibilities and opportunities for us to grasp, from the business model and geographical reach, to brand and product.