Binance CMO Rachel Conlan exits June 15 as crypto exchanges cut high-cost marketing!

Binance confirmed that Chief Marketing Officer Rachel Conlan will leave the company on June 15, with former Trust Wallet CEO Eowyn Chen stepping in as interim CMO. Conlan will remain as an advisor through the transition period.

The departure lands at a telling moment: major crypto exchanges are actively reassessing expensive marketing commitments as market conditions soften. Bybit CEO Ben Zhou recently confirmed the exchange will not renew its Formula 1 sponsorship, pivoting instead toward partnerships that deliver measurable commercial returns.

Together, the moves signal a sector-wide tightening of marketing budgets — a shift from brand-building splashes toward leaner, performance-driven spend that reflects the current macro environment.