Binance Hires Two Crypto.com Compliance Executives

A Quiet Job Just Got Louder

For crypto exchanges, compliance is the background department that can save the whole company. For Binance, it has become the story.

Binance Holdings Ltd. is adding two former Crypto.com compliance executives, Antonio Alvarez and Duncan DeVille, to shore up its compliance team. Alvarez, who until recently led Crypto.com's compliance team, will soon join as the deputy chief compliance officer under Noah Perlman. DeVille, who also worked at Crypto.com, now oversees Binance's financial crime compliance on a global scale. These are not entry-level positions.

The experience runs deep. Alvarez worked at American Express, Visa and Western Union before joining Coinbase in 2019 and Crypto.com in 2020. DeVille also had a Western Union and the U.S. Treasury Department behind him before joining Crypto.com in 2022.

Perlman said in a statement that their decision to join is "both a vote of confidence in our program and a reflection of our continued commitment to building one of the strongest compliance functions in the industry." Crypto.com has not yet offered a public response to the announcement.

A Year of Challenges

The hires came after a difficult stretch for Binance's compliance team. Over the past year, a number of senior members have departed from Binance's compliance division. Press reports covered the departures and linked some of them to Binance's handling of Iran-related money. Binance rejects key parts of those reports and says its compliance systems did what they were built to do.