Binance's chief marketing officer Rachel Conlan to leave the exchange

Eowyn Chen, former CEO of Trust Wallet, will serve as her interim replacement.

What to know:

• Rachel Conlan, Binance’s chief marketing officer, will leave the company on June 15 after roughly three years helping to build the crypto exchange’s brand.
• Former Trust Wallet CEO Eowyn Chen will serve as Binance’s interim CMO, while Conlan stays on as an adviser to support the transition.
• Conlan’s departure comes amid a broader pullback in big-ticket crypto marketing, as other major firms scale back sponsorships and see senior marketing leaders exit.

Rachel Conlan, the chief marketing officer (CMO) at Binance, the world’s largest cryptocurrency exchange, said she is leaving the company next month after three years helping to build the brand.

Eowyn Chen, former CEO of Trust Wallet, will serve as the interim CMO, a Binance spokesperson said via email

“Serving as CMO of Binance has been the privilege of my career,” Conlan said in an email. “ I'm deeply grateful to Yi He, Richard [Teng] and the entire leadership team for the trust they placed in me, and to every member of the team I've had the honour of working with.”

Conlan, who took the post in September 2023, is credited with launching “Crypto,” the perfume. Also known as “Eau de Binance,” the fragrance was introduced by the exchange in March 2024 to celebrate International Women's Day.

Prior to Binance, Conlan spent a year as the global head of brand and partnerships at rival OKX, working under CMO Haider Rafique.

“Rachel is a premier talent who has left an indelible mark on the company and after four years of remarkable service has decided to step down to focus on personal priorities,” a Binance spokesperson said.

Like other large crypto brands, Binance has signed a selection of high-profile partnerships, a number of which predate her tenure. These include the footballer Cristiano Ronaldo, Canadian singer-songwriter The Weeknd, the Alpine Formula One team and social media star Khaby Lame.

This year's crypto market downturn may be hitting the wallets of marketing departments at large crypto firms. Crypto.com, a firm that has spent as much as $1 billion promoting its name on things like rebranding the Staples Center, an advert with Matt Damon, FI and UFC deals, only last week said its CMO, Steven Kalifowitz, is leaving the company.

In addition, Ben Zhou, the CEO of Bybit, the second-largest crypto exchange, said in a recent interview that he would not be renewing his F1 sponsorship, and is looking for other deals with better commercial value.

Conlan’s last day is June 15 and she will remain as an adviser to support the company through the transition, Binance said.

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