CoinDesk
Binance's chief marketing officer Rachel Conlan will leave the world's largest cryptocurrency exchange on June 15 after roughly three years in the role, with Eowyn Chen — former CEO of Binance-owned Trust Wallet — stepping in as interim CMO. Conlan will stay on as an adviser through the transition. A Binance spokesperson said Conlan decided to step down to focus on personal priorities, and Conlan called the CMO post "the privilege of my career" in an email thanking co-founder Yi He and CEO Richard Teng.
Conlan joined Binance in September 2023 from rival OKX, where she spent a year as global head of brand and partnerships. She is credited with launching the exchange's "Crypto" perfume — marketed as "Eau de Binance" — for International Women's Day 2024, and inherited a sponsorship roster that predated her tenure, including deals with Cristiano Ronaldo, The Weeknd, the Alpine Formula One team and Khaby Lame.
Why it matters
The departure is the third senior marketing exit at a top-tier crypto venue in a matter of weeks. Crypto.com said its CMO Steven Kalifowitz is leaving, and Bybit CEO Ben Zhou has publicly said he will not renew the exchange's F1 sponsorship, calling the deal commercially weak. Conlan's exit lands in the same window, even as Binance's own partnership book remains intact — a sign that the marketing-leadership churn is sector-wide rather than firm-specific, and is being framed by the firms as disciplined cost-cutting in a softer market.
Market impact
The pattern matters less for any single sponsorship decision than for what it signals about the cost structure of crypto brand-building at the top of the cycle. Crypto.com spent as much as $1 billion on sponsorships at the peak, including the Staples Center naming rights, a Matt Damon-led campaign and UFC and F1 deals. Pullbacks at that scale compress the price of premium sports inventory and reset expectations for what a top-tier crypto marketing budget looks like in a downturn.
Frequently asked questions
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Who is replacing Rachel Conlan as Binance's CMO?
Eowyn Chen, the former CEO of Binance-owned Trust Wallet, will serve as Binance's interim CMO. Conlan will stay on as an adviser to support the transition.
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When is Rachel Conlan leaving Binance?
Conlan's last day is June 15, ending roughly three years in the role. She joined Binance in September 2023 from rival OKX.
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Is Conlan's departure part of a wider crypto marketing pullback?
It lands alongside two other senior marketing exits at top venues: Crypto.com said its CMO Steven Kalifowitz is leaving, and Bybit CEO Ben Zhou said the exchange will not renew its F1 sponsorship.
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What is Conlan credited with at Binance?
She is credited with launching the exchange's "Crypto" perfume — marketed as "Eau de Binance" — for International Women's Day 2024, and she inherited a sponsorship roster including Cristiano Ronaldo, The Weeknd, Alpine F1 and Khaby Lame.
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How much have crypto firms spent on sponsorships at the peak?
Crypto.com spent as much as $1 billion on sponsorships at the cycle peak, including the Staples Center naming rights, a Matt Damon campaign and deals with the UFC and F1.
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