Ex-Binance executive alleges retaliatory firing over bribery whistleblowing

A former senior executive at Binance has accused the company of retaliatory dismissal after she raised concerns about an alleged bribery scheme involving a colleague, Bloomberg News reported on Nov. 28.

Amrita Srivastava, a London-based executive who worked remotely on Binance’s Link platform, testified that she was dismissed after reporting that a colleague solicited a bribe from a customer in exchange for expedited integration services.

The alleged payments were disguised as “consultative services” and executed while the colleague purportedly distanced himself from his formal ties to Binance. The colleague in question has since left the company.

Srivastava joined Binance in April 2022 after a role at Mastercard, where she managed fintech coverage for Western Europe. She told the tribunal that she initially believed in the company’s commitment to improving compliance, especially given the global regulatory pressure it faced.

However, she described a “chaotic” work culture and said her unit faced mounting pressure to close deals, particularly after losing significant revenue streams tied to a client with alleged links to Iran.

Binance response

The former executive claims she reported the bribery incident to her managers in April 2023 but was terminated a month later for what Binance claims was “poor performance.”

In a statement, Binance’s lawyer maintained that the decision to end Srivastava’s employment predated her whistleblowing, adding that the alleged bribery was already known and under internal review.

However, Srivastava asserts that her dismissal was linked directly to her decision to report the alleged misconduct.

Under UK law, whistleblowing awards in employment tribunals are uncapped, potentially exposing Binance to significant financial liabilities if the court upholds Srivastava’s claims.

She has alleged that her experience at Binance caused severe damage to her career and reputation, which she anticipates will take years to repair. Srivastava concluded: