Rachel Conlan, who has spent the last three years instrumental in building Binance’s reputation as the leading cryptocurrency exchange, has announced her intention to depart from her position as chief marketing officer (CMO) next month. Eowyn Chen, who was in charge of Trust Wallet before, would take over as the company’s temporary chief marketing officer.
Conlan said in an email:
“Serving as CMO of Binance has been the privilege of my career. 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 is said to have introduced the scent “Crypto” after assuming the position in September 2023. Launched in March 2024 in honor of International Women’s Day, the fragrance—also known as “Eau de Binance”—was presented by the exchange.
Before joining Binance, Conlan worked for OKX for a year as CMO Haider Rafique’s deputy and head of global brand and alliances.
According to a representative for Binance, Rachel has chosen to step down after four years of outstanding service in order to concentrate on personal matters. Rachel is a top talent who has made a lasting impression on the firm. Binance said that Conlan would be leaving the firm on June 15 but will continue to serve as an advisor to help with the transition.
Challenging Crypto Market
Several of Binance’s high-profile collaborations predate her tenure, although the company has signed a lot of them like other major crypto businesses. Among them are the Alpine Formula One team, Canadian singer-songwriter The Weeknd, footballer Cristiano Ronaldo, and internet sensation Khaby Lame.
Large crypto businesses’ marketing teams may be feeling the pinch of this year’s crypto market collapse. Crypto.com, which has rebranded the Staples Center, partnered with Matt Damon in an advertisement, and struck relationships with FI and UFC, has spent up to $1 billion advertising its identity. Last week, the business announced that Steven Kalifowitz, its chief marketing officer, is departing.
Aside from that, Ben Zhou, CEO of the second-biggest cryptocurrency exchange Bybit, recently said in an interview that he is seeking for other arrangements with more commercially viable alternatives to renewing his F1 sponsorship.