Rachel Conlan, chief marketing officer (CMO) at Binance, the world’s largest cryptocurrency exchange, said she will leave the company next month after three years of helping build the brand.
Éowyn Chen, former CEO of Trust Wallet, will serve as 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 am deeply grateful to Yi He, Richard [Teng] as well as to the entire management team for the trust they have placed in me, as well as all the members of the team with whom I have had the honor of working.
Conlan, who took office in September 2023, is credited with launching the “Crypto” 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 global head of brand and partnerships at rival OKX, reporting to CMO Haider Rafique.
“Rachel is a top talent who has left an indelible mark on the company and after four years of remarkable service, she has decided to step down to focus on her personal priorities,” a Binance spokesperson said.
Like other major crypto brands, Binance has signed a selection of high-profile partnerships, a number of which predate its tenure. These include footballer Cristiano Ronaldo, Canadian singer-songwriter The Weeknd, Formula 1 team Alpine and social media star Khaby Lame.
This year’s crypto market slowdown could hit the wallets of the marketing departments of major crypto companies. Crypto.com, a company that has spent as much as $1 billion promoting its name on things like the Staples Center rebrand, a Matt Damon commercial, FI and UFC deals, announced last week that its chief marketing officer, Steven Kalifowitz, was leaving the company.
Additionally, Ben Zhou, CEO of Bybit, the second largest cryptocurrency exchange, said in a recent interview that he would not renew his F1 sponsorship and was looking for other deals with better commercial value.
Conlan’s last day is June 15 and she will remain an advisor to support the company through the transition, Binance said.
