Tag: Jonathan Farnell

Binance UK CEO Jonathan Farnell has stepped down amidst increasing scrutiny from the UK's Financial Conduct Authority (FCA). Hired in 2021 for a compliance-centric role and later elevated to oversee Binance's UK operations, Farnell's exit leaves Ilir Ergis Laro as the sole representative of Binance in the UK. Before the FCA's recent regulatory changes, Farnell was instrumental in aligning Binance with the UK's regulatory framework.

In February 2022, Eqonex had reportedly become the first crypto company to receive a listing on NASDAQ via a SPAC construction. Eqonex filed for judicial administration with the High Court of Singapore to restructure its debt. In February 2023, the company received a notice from Nasdaq that the company's shares would be delisted on March 1, 2023. On 22 April 2023, the U.S. law firm Rosen Law announced a class action lawsuit against the former Binance affiliate.

In March 2022, the Nasdaq-listed crypto exchange operator EQONEX Limited entered into a strategic partnership with the Binance Group, making it a sort of subsidiary. Under the terms of the strategic alliance, Lithuanian Bifinity UAB provided a $36 million loan and has the right to nominate key management positions and Board members. Consequently, Jonathan Farnell has been appointed CEO, Almira Cemmell Chief Corporate Affairs Officer, and Daniel Ling was appointed Chief Financial Officer (CFO).