Three Executives of CoinMarketCap Resigns


The standing CEO and chief officer for strategy of CoinMarketCap, Carylyne Chan, has made the public know that she will be relinquishing her position on the company alongside two other high-ranking executives -the vice presidents of operations and products, Spencer Yang and Jeremy Seow. Notably, these resignations came following the acquisition of the company by the industry-leading crypto firm Binance just four months ago.

Chan, who worked for CoinMarketCap for over two years, stated that even before taking the job at the prominent crypto data aggregator, she always had that keen interest in the AI field and now plans to go back to just that. The former CEO adds that she is currently exploring several new opportunities that may fit her decade long experience within the industry, especially those that require technological modernization and elevated branding.

Although Binance’s acquisition was not explicitly mentioned as her reason for leaving the company, many still believe that it is a factor at the very least. The CEO before Chan, Brandon Chez, stepped down as well following the deal last April 2, 2020, which sparked several noteworthy controversies such as CoinMarketCap purposefully pushing Binance, its new owner, to the top of the rankings. Although CoinMarketCap clarifies that their data is genuine and has no traces of biases, many people still think otherwise.

As per the other two executives resigning alongside her, Spencer Yang and Jeremy Seow, both stated that they have already done their part for the company and is now ready for new ventures outside of it. Yang announced that the reason for his leaving is his desire to spend more valuable time processing the problems he would like to solve outside CoinMarketCap. Meanwhile, Seow says that he has already been a part of several significant milestones within the company and firmly believes that it is now time to step down.


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