The BRC-20 token PUPS experienced a significant drop of about 40% in the past 24 hours and is now at a market cap of $348 million.

Grant’s appointment follows the first-ever assembly of a Binance Board of Directors, in line with terms agreed with the U.S. Justice Department.

The crypto exchange has not selected a headquarters yet, but it revealed a seven-member board earlier this month.

Per crypto.news, the board includes CEO Richard Teng, who took over from founder Changpeng Zhao after he resigned late last year at the climax of a multi-year U.S. crackdown.

Also included on the board are top-ranking executives like Heina Chen, Jinkai He, and founding member Lilai Wang. Bayview Acquisition Corp. CEO Xin Wang, and Arnaud Ventura, managing partner at Gojo & CO., were named as two of three external figures.

Former Barbados’ ambassador to the UAE, Gabriel Abed, will chair the board and oversee general operations while reporting to authorities as part of a monitoring program that may last up to five years.