Binance CMO Rachel Conlan to depart on June 15 after three years

Rachel Conlan, the chief marketing officer who steered Binance’s brand through one of its most turbulent periods, is leaving the exchange on June 15. She’ll stay on in an advisory capacity during the transition, but the day-to-day marketing reins are moving to someone with a very different background.

Eowyn Chen, who previously served as CEO of Trust Wallet, Binance’s self-custody wallet product, will take over as interim CMO.

From perfume bottles to regulatory battles

Conlan’s tenure at Binance spanned nearly three years, though she formally took the CMO title in September 2023. The highlight reel includes a literal fragrance called “Crypto (Eau de Binance),” and high-profile celebrity partnerships with Cristiano Ronaldo and The Weeknd, designed to push Binance’s name beyond the crypto-native audience and into the broader cultural conversation.

She was also managing Binance’s public image during what might be the most consequential regulatory reckoning any crypto company has faced. The exchange settled with US authorities for $4.3B, a figure that still ranks among the largest corporate penalties in financial history. That settlement reshaped Binance’s entire leadership structure, most notably resulting in founder Changpeng “CZ” Zhao stepping down as CEO.

Why the Trust Wallet connection matters

Trust Wallet is a self-custody product, meaning users hold their own private keys rather than relying on Binance to store their assets. Putting Trust Wallet’s former CEO in charge of marketing, even on an interim basis, hints at a meaningful shift in how Binance wants to position itself toward DeFi and self-custody solutions.

The leadership change also raises questions about Binance’s celebrity partnership strategy going forward. Conlan was the architect of those deals, and Chen’s background suggests a more product-focused, technically grounded approach to marketing.

Investors and competitors should watch how Binance’s messaging evolves over the next quarter. The interim CMO tag on Chen’s title leaves room for Binance to bring in a permanent replacement with a different vision. Look at Richard Teng, who took over as CEO after CZ’s departure and has since fully settled into the role.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.