Binance.US picks a new leader to help it fight for dominance in a crowded market

Binance.US, the American affiliate of the world’s largest crypto exchange, named Stephen Gregory as CEO, installing a compliance-focused executive at the helm at a time that competition among U.S. crypto trading platforms is accelerating.

Gregory replaced Norman Reed on March 9, the company said in a statement shared with CoinDesk. He was previously U.S. CEO of digital asset platform Currency.com, where he led the firm during its 2025 acquisition by CXNEST. He also held compliance leadership roles at crypto exchanges Gemini (GEMI) and CEX.io.

The leadership change comes as the U.S. crypto exchange landscape is changing. Over the past several months, trading platforms have raced to expand beyond digital assets, adding products such as tokenized stocks, prediction markets and traditional equities trading. Some exchanges have also struck partnerships with major U.S. stock exchanges to explore trading blockchain-based versions of publicly listed shares.

The appointment places a legal and regulatory specialist in charge at a time when U.S. oversight of crypto companies remains a central issue for the industry. Reed will remain with the company in an advisory role.

Gregory said the exchange’s brand remains strong and closely tied to the vision of its founder. “The Binance.US brand is extremely powerful,” he told CoinDesk, noting that its owner, Changpeng “CZ” Zhao, has “continuously advocated to make the U.S. the crypto capital of the world.” He said he plans to guide the company into its next phase while building on that foundation. Gregory added that by focusing on innovation for customers, Binance.US is positioned to take advantage of emerging opportunities and expand access to decentralized finance and a broader “tokenized value ecosystem.”

Binance’s global platform remains the largest cryptocurrency exchange in the world by a wide margin. The exchange recorded nearly $10 billion in trading volume over the past 24 hours, more than five times the volume of rival Coinbase (COIN), according to CoinGecko data.

The company said it plans to expand several parts of its business under Gregory’s leadership. In the past year, it has introduced products including Boost, staking services and a revamped referral program. It plans to expand its “Earn” suite and build new gateways connecting users to decentralized finance and tokenized assets.