The general manager of Binance FZE in Dubai, Alex Chehade, is set to leave the company after a two-year tenure, as per a report by Imogen Lillywhite ,Zawya. Chehade, who joined the virtual assets exchange in June 2022, played a pivotal role in securing Binance’s Dubai Virtual Assets Regulatory Authority (VARA) license in April. He will officially depart at the end of July.
Significant Contributions
Binance, in a statement, expressed its gratitude: “Alex will be leaving Binance at the end of July to pursue personal interests. Alex was one of our first hires in the region and played a crucial role in building the team and business across the country. We extend our deepest gratitude for his significant contributions during his time at Binance and wish him well on his future endeavors.”
Leadership Impact
Chehade’s departure has come as a surprise to some, as he was considered a potential future board member of Binance. When Binance announced their VARA license, Alex stood beside Richard Teng, sharing the milestone with the media, underscoring his main role in achieving this significant accomplishment. His leadership in the UAE saw Binance FZE become one of 18 organizations to receive VARA’s full license as a virtual assets service provider (VASP), according to the authority’s public register.
Binance’s Continued Efforts
Despite various global challenges, Chehade’s contributions have been crucial in establishing Binance’s presence and regulatory compliance in the UAE. His efforts have left a lasting impact on Binance’s operations in the region. However, questions remain: Is he leaving to join another exchange? Is he planning to start his own venture? Only time will reveal his next move.
