Rachel Conlan, Binance’s chief marketing officer, will step down from her role on June 15. She’ll remain in an advisory capacity during the transition, but the move marks a notable shift for the world’s largest crypto exchange by trading volume.
Her replacement is Eowyn Chen, the former CEO of Trust Wallet, who will serve as interim CMO.
A short but splashy tenure
Conlan joined Binance in September 2023, arriving with a resume built on exactly the kind of high-wattage campaigns that crypto exchanges loved during flush times. Before Binance, she led branding efforts at rival exchange OKX, where she helped orchestrate the kind of partnerships that make traditional marketers raise an eyebrow.
At Binance, her playbook was similar. Conlan spearheaded campaigns featuring Cristiano Ronaldo and The Weeknd, the sort of celebrity tie-ups designed to put a crypto brand in front of people who might not know a block explorer from a blockchain.
One of her more memorable initiatives was “Crypto (Eau de Binance),” a perfume launched for International Women’s Day.
The bigger picture: exchanges are tightening their belts
Conlan’s exit fits neatly into a pattern that’s becoming hard to ignore across the exchange landscape. Crypto.com’s CMO also departed recently, adding another data point to the trend. And Bybit’s CEO announced the firm will not renew its Formula 1 sponsorship, choosing instead to redirect resources toward what management described as higher-value marketing efforts.
What Eowyn Chen brings to the table
Chen’s background is worth examining. As the former CEO of Trust Wallet, Binance’s self-custody wallet product, she understands the company’s tech stack and user base from the inside. Trust Wallet has millions of users across mobile platforms, giving Chen direct experience with product-led growth strategies.
The “interim” label on her title is worth watching. Whether Chen stays will likely depend on whether Binance’s leadership sees measurable ROI improvements from a more product-centric marketing approach.
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