Binance.USCEO Brian Shroder has left the crypto exchange and the company has eliminated one-third of its workforce, according to a spokesperson.

It's been a tough year for crypto exchanges in the U.S., with Binance.US feeling particular pressure. The Securities and Exchange Commissionsuedthe company in June for allegedly violating securities laws, which built onaccusationsfrom another American regulator.

"The actions we are taking today provideBinance.US with more than seven years of financial runway and enable us to continue to serve our customers while we operate as a crypto-only exchange," the company said in a statement. "The SEC's aggressive attempts to cripple our industry and the resulting impacts on our business have real world consequences for American jobs and innovation, and this is an unfortunate example of that."