Binance.US, a leading United States-based digital asset marketplace, today announced that Manuel “Manny” P. Alvarez will join the company as Chief Administrative Officer, effective July 22nd. Most recently, Alvarez served as Commissioner of the California Department of Financial Protection and Innovation. In this new role, Alvarez will oversee major control functions including risk, compliance, and legal, and help Binance.US reinforce trust and stability with its customers and partners throughout the United States. He will report to Binance.US’s Chief Executive Officer, Brian P. Brooks.
“We are thrilled to welcome Manny to Binance.US as we continue to bolster our organization with accomplished senior professionals,” said Brooks. “Manny is a highly respected senior government official and business executive with deep expertise in financial services regulation and technology. Compliance is the key to creating trust with both our customers and our regulators, which is why we are hiring recognized leaders in the field such as Manny. He is that rare brilliant regulatory mind with a strong sense of law and compliance who also brings a strong technology and Silicon Valley perspective. He was General Counsel and Chief Compliance Officer of the point-of-sale lending platform Affirm, where he helped build the company in the years leading up to its successful IPO earlier this year. Manny left Affirm to answer the call to public service leading one of the most important financial regulatory agencies in the country. Manny’s leadership will be instrumental as Binance.US seeks to fulfill our vision of serving as the most beloved and dependable destination for cryptocurrency in America. It is a huge honor that Manny is joining us.”
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“I am very excited to be joining Binance.US at this momentous point in Binance.US’s growth trajectory,” said Alvarez. “Throughout my career, I have worked to level the playing field for Americans seeking to achieve financial freedom, by advocating for and promoting fairness, transparency, education, and innovation. I look forward to bringing this same relentless focus to the digital assets industry and Binance.US alongside Brian and the rest of the company’s talented team.”
Alvarez’s hiring follows the appointment of former Acting Comptroller of the Currency Brooks as CEO of Binance.US on May 1, 2021. Since Brooks joined Binance.US, it has nearly doubled its headcount by adding 110 new employees to its regulatory, legal, compliance, and customer support teams.
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Manuel P. Alvarez Biography
Alvarez was appointed Commissioner of the California Department of Business Oversight, the state’s banking and financial regulatory agency, by Governor Gavin Newsom on March 28, 2019, and was sworn in on May 13, 2019. He led the department in its transition to the Department of Financial Protection and Innovation and spearheaded its focus on protecting consumers from harmful practices, increasing access to financial literacy and technology, and engaging under-served communities.
From 2014 to 2019, Alvarez served as the General Counsel, Chief Compliance Officer and Corporate Secretary at Affirm Inc., where he oversaw and managed the fintech company’s legal and regulatory compliance efforts. Previously, he was an enforcement attorney at the Consumer Financial Protection Bureau from 2011 to 2014, a deputy attorney general at the California Department of Justice, Office of the Attorney General from 2010 to 2011, and an associate at Dentons LLP from 2007 to 2010.
Alvarez has a bachelor’s degree from Cornell University and a juris doctor from the University of California, Hastings College of the Law.
