Binance announced that Chief Marketing Officer Rachel Conlan will leave her position on June 15, with former Trust Wallet CEO Eowyn Chen stepping in as interim CMO. Conlan will remain as an advisor during the transition. This change occurs as major cryptocurrency exchanges, including Binance, reassess their marketing expenditures in response to softer market conditions. The shift in strategy is echoed by Bybit, whose CEO Ben Zhou recently stated that the exchange will not renew its Formula 1 sponsorship, opting instead for partnerships that offer greater commercial value. These moves highlight a broader trend among crypto exchanges to optimize marketing budgets amid a challenging economic environment.