Binance Hired Rohit Wad – Senior Microsoft Executive As New CTO

Republished By Plato

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Binance hired Rohit Wad, a senior Microsoft executive as its new CTO but also hired executives from travel giant Agoda so let’s read more in today’s latest Binance news.

Binance hired Rohit Wad who is a 30-year veteran of Silicon Valley from companies like Google and Microsoft. The move came as the exchange pushes to win the trust of regulators and mainstream finance. The platform announced that it hired Rohit Wad who spent more than 30 years at Microsoft and other companies, to be its new chief technology officer.

The move came at a time when Binance is working to shake off its image of a renegade and to expand the role of crypto into the mainstream economy. Hiring Wad seems to be a key part of the plan. Wad will be responsible for engineering scalable and complaint as well as fast Web3 services and solutions:

“He will guide the team to build products that will bring mass adoption to crypto and lower the barrier to entry to Web3 technology.”

Wad started his career at Microsoft during the early 1990s and helped to build out new software products such s Bing and Excel. After his time at Facebook and Google, he returned to Microsoft in 2016 and took on the role of Corporate VP of Product and Engineering. Binance also announced that it poached Mayur Kamat who is an executive at Singapore -based travel agent Agoda and will become the new VP of product.

All of this came a time after the CEO Changpeng Zhao announced that the company intended to make a spree of acquisitions targeting companies from the non-crypto market:

“We want to identify and invest in one or two targets in every economic sector and try to bring them into crypto.”

Binance’s Acquisition Spree, exchange, zhao, — Changpeng Zhao

Binance seems to be flush with cash and CZ’s own personal fortune is close to $100 billion which puts the company in a position to increase the large footprint in crypto. However, the exchange has been dogged by regulatory issues as agencies across the US alleged the platform of illicit trading on the exchanges and scrutinize the anti-money laundering practices. Last year, the company tried to boost its reputation by hiring executives from the IRS, Interpol, and the political world to show that it is taking regulation and compliance issues quite seriously.

Time Stamp: April 2, 2022