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Binance.US Hires Ex-Uber Lawyer as Day-to-Day Legal Head (1)

May 19, 2022, 3:10 PMUpdated: May 19, 2022, 7:21 PM

Binance.US has appointed a new day-to-day head of its legal department in Krishna Juvvadi, who was the first regulatory lawyer hired in-house by Uber Technologies Inc.

Juvvadi’s title will be vice president and head of legal for Binance.US, the company said Thursday. Reporting to general counsel Norman Reed, Juvvadi also will support the digital asset platform’s efforts to expand its legal and compliance team.

“Krishna is a skilled legal practitioner whose experience shaping and implementing the regulatory strategy of Uber translates extremely well to our similarly nascent, fast-growing business and industry,” Brian Shroder, a former Uber executive named CEO last year of Binance.US, said in a statement.

Juvvadi, who left Uber in 2020 and wasn’t immediately available for comment, said in a statement that he was drawn to Binance.US by steps it has taken to bolster its legal and compliance team.

“I look forward to working closely with Norman and the rest of our talented colleagues to guide the company’s legal strategy and maintain the trust of our customers and regulators,” Juvvadi said.

Binance.US, owned by BAM Trading Services Inc., caters to US customers as an offshoot of Binance Holdings Ltd., the world’s largest cryptocurrency exchange.

Bloomberg Law reported this week on Binance looking to hire more than 30 lawyers around the world as it and other cryptocurrency companies grapple with market volatility stemming from the collapse of Terraform Labs Pte. Ltd.’s algorithmic stablecoin TerraUSD.

Juvvadi’s hire comes nearly two months after Binance.US was valued at $4.5 billion following a $200 million fundraising, the company’s first external funding round since its founding in 2020.

During his time at Uber, Juvvadi served as the San Francisco-based company’s chief regulatory counsel and global head of operations compliance. Binance.US said Juvvadi played a key role in Uber’s efforts to “secure legislation and regulations at the local, state, and federal level” in numerous markets.

Since leaving Uber, Juvvadi has been an adviser and chief legal and policy officer for All Day Technologies Inc. The company owns All Day Kitchens, a food and logistics startup that raised $85 million last year to expand its operations with restaurants.

Uber to Binance

Juvvadi joins Shroder and several other former Uber employees at Binance.US.

Binance.US hired former Uber program manager Jeffrey Osbun in a legal operations role earlier this year. Osbun previously was a senior litigation paralegal for the SL Environmental Law Group, where Juvvadi was a partner prior to joining Uber and after he was a trial attorney in the Justice Department’s Civil Rights Division.

During his time in private practice, Juvvadi represented New Hampshire in a lawsuit against several major oil companies that resulted in a $236 million jury verdict. The judgment stood after the U.S. Supreme Court denied review of the case in 2016.

Juvvadi’s itigation and public policy expertise will help Binance.US restock a legal and compliance group that has experienced some defections within the last year.

Shroder joined Binance.US as its top executive following the sudden departure of the company’s former CEO, Brian Brooks, a one-time chief legal officer for rival cryptocurrency exchange Coinbase Global Inc. who served as acting head of the Office of the Comptroller of the Currency during the Trump administration.

Robert Wu, another former legal colleague of Juvvadi’s at Uber, announced via LinkedIn this month that he had become head of corporate legal at OpenSea, a non-fungible token marketplace that recruited a new general counsel last year from Facebook parent Meta Platforms Inc.

(Adds detail on Juvvadi and Binance.US after eighth paragraph.)

To contact the reporter on this story: Brian Baxter in New York at bbaxter@bloomberglaw.com

To contact the editors responsible for this story: Chris Opfer at copfer@bloomberglaw.com; John Hughes at jhughes@bloombergindustry.com; John Crawley at jcrawley@bloomberglaw.com