{"id":581,"date":"2022-12-20T06:38:05","date_gmt":"2022-12-20T01:08:05","guid":{"rendered":"https:\/\/news.cetoex.com\/?p=581"},"modified":"2022-12-20T06:38:05","modified_gmt":"2022-12-20T01:08:05","slug":"boris-johnsons-brother-resigns-as-advisor-to-binance","status":"publish","type":"post","link":"https:\/\/news.cetoex.com\/boris-johnsons-brother-resigns-as-advisor-to-binance\/","title":{"rendered":"Boris Johnson\u2019s Brother Resigns as Advisor to Binance"},"content":{"rendered":"\n
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Cetoex News – <\/strong> Jo Johnson, U.K. transport minister, departs following a weekly meeting of cabinet ministers at number 10 Downing Street in London, U.K., on Tuesday, Sept. 4, 2018. Both Prime Minister??Theresa May??and opposition Labour Party leader??Jeremy Corbyn??found themselves under fire as British lawmakers prepared to return to work this week. Photographer: Chris J. Ratcliffe\/Bloomberg via Getty Images<\/p>\n\n\n\n

<\/a>The Telegraph\u00a0reported that Boris Johnson\u2019s brother, Jo, has just resigned as an advisor to the cryptocurrency exchange platform,\u00a0Binance. Moreover, the publication noted that the official records have shown that Lord Johnson of Marylebone had taken up the role in just September.<\/p>\n\n\n\n

The current state of cryptocurrencies is a volatile one, and the industry\u2019s challenges have reportedly preceded Johnson\u2019s resignation. Furthermore, The Telegraph noted Johnson\u2019s role in potentially aiding Binance\u2019s launch in the UK.<\/p>\n\n\n\n

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Lord Johnson Steps Away from Binance<\/h2>\n\n\n\n

It has been a difficult year for everyone in the cryptocurrency sphere. The collapse of the widely known platform, FTX, cascaded a plethora of challenges that the industry has seen unfold. Now, with the criminal charges against FTX\u2019s founder, Sam Bankman-Fried, cryptocurrency platforms are being pushed to embrace transparency in a greater way than ever known.<\/p>\n\n\n\n

With those challenges and shortcomings evident, it has been reported that Boris Johnson\u2019s brother, Jo, is resigning from his post as an advisor to Binance. The decision was disclosed this week, following three months on the advisory board to a Binance subsidiary.<\/p>\n\n\n\n

\"Binance
Source: The Economic Times.com<\/figcaption><\/figure>\n\n\n\n

The Telegraph noted the decision following growing pressure over, \u201cthe transparency of Binance\u2019s finances,\u201d and a \u201cdeepening crisis in the cryptocurrency sector.\u201d Additionally, it was noted by the publication that Johnson\u2019s role with the platform was propelled by Binance\u2019s desire to form a presence in the United Kingdom.<\/p>\n\n\n\n

Officially, Johnson was an advisor to Bifinitiy, a payments business that was founded by Binance. He took the position alongside Lord Vaizey, who was formerly the digital minister and a member of Binance\u2019s global advisory board.<\/p>\n\n\n\n

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Source: CNN.com<\/figcaption><\/figure>\n\n\n\n

These two additions to the Binance team were the fruits of efforts to build legitimacy with regulators within the last year. This followed the platform\u2019s deteriorating standing with the Financial Conduct Authority last year. A standing that led the FCA to block their launch of a UK division.<\/p>\n\n\n\n

Johnson told The Telegraph, \u201cI stepped down from the advisory board last week and have no role with it [or] any related entity.\u201d<\/strong> Conversely, a Binance spokesperson shared that, \u201cLord Johnson has recently taken on the role of executive chairman of FutureLearn. He will be focusing on his new role within the digital learning platform and is looking to scale back other activities.\u201d<\/p>\n\n\n\n

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NEWS BY – CETOEX NEWS <\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

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