Former Binance U.S. CEO Brian Brooks airborne mining company Bitfury as CEO

After a three-month window period, Brian Brooks, former acting chief of the U.S. Currency Regulatory Commission (OCC) and former chief executive of Binance US, will serve as the chief executive officer of the cryptocurrency mining company Bitfury.

New CEO of Bitfury

According to the press release, Bitfury, a cryptocurrency mining company, has announced the appointment of Brian Brooks as its CEO. The original founder and CEO Valery Vavilov will be transferred to Chief Visionary Officer and Chairman of the Board of Directors.

Bitfury was founded in 2011 and is headquartered in the United Kingdom. Its current valuation is between US$500 million and US$1 billion. Founder Valery Vavilov pointed out that he has been looking for new heads for the past three years, and it has finally come true.

And Brian Brooks said in an interview with the Financial Times: The current exchange is a profitable business, but that is not necessarily where new innovations are born, and Bitfury, as the only mining chip manufacturer outside of China, has a better positioning. Advantage.

Brian Brooks also mentioned the turbulent environmental problems that have arisen from previous Bitcoin mining. He said: Bitcoin mining does have an impact on the environment, but Bitfury has adopted a solution by cooling mining machines and more efficient data centers. Reduce the impact on the environment.

Brian Brooks

Brian Brooks has a brilliant career in the past few years:

2018–2020: Coinbase Chief Compliance Officer

2020–2021: Member of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC)

2020–2021: Acting Comptroller of the Office of the Comptroller of the Currency (part-time position with FDIC)

2021 (May-August): CEO of Binance US

It was previously reported that Brian Brooks resigned in a flash after serving as the chief executive of Binance US for only four months. He claimed that there were differences in the strategic direction of the two sides.

During his tenure as the Acting Comptroller of the U.S. Office of the Comptroller of Currency, he was known for promoting the provision of cryptocurrency custody services for the public and the crypto-friendly policies that banks can handle stable currency businesses.

He also mentioned that Bitfury is considering financing and IPO, and believes that the current venture capital market conditions are very favorable. Based on its past political-business relationship, it may help to enhance the compliance status of mining activities.