CryptoMediaClub
Wednesday, July 30, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Binance Russia buyer tightlipped on owners, denies CZ involvement

30.09.2023
A A
0
123
VIEWS
ShareShare

Amid growing skepticism about CommEx — the mysterious buyer of Binance’s Russian division — the newly launched firm has continued denying Binance’s ownership involvement.

On Sept. 29, CommEx issued an open letter to the community, reiterating that the company is not owned by Binance, which announced its exit from Russia by selling the firm to CommEx.

“Although we do not disclose our UBO, we want to make it clear that we are not owned by Binance,” CommEx wrote on its website. A spokesperson for CommEx declined to comment to Cointelegraph about the reasons it won’t share any information about its owners.

“We are a vibrant and efficient start-up team, made up of dozens of passionate individuals from diverse backgrounds,” CommEx said in the announcement, adding that some of its core members are former Binance veterans.

The CommEx announcement said the firm has been developing its platform for six months, during which time it onboarded some ex-Binance employees. “This has allowed us to learn from Binance’s product and operations experiences, establishing indirect connections with them,” CommEx added.

The announcement confirms that former team members of Binance’s division in the Commonwealth of Independent States (CIS) are part of CommEx, despite Binance having no ownership in the exchange.

Former employees at Binance CIS will join or may have already joined the new firm, Binance CEO Changpeng Zhao said on X (formerly Twitter) on Sept. 28. “We think that is a good thing,” he added.

Some answers about Binance/CommEx.
There will be crypto transfers between Binance & CommEx as users migrate with their funds. There are also older transactions during the testing phase of the integrations. This is expected.
A few ex-Binance CIS team members may join their team,…

— CZ Binance (@cz_binance) September 28, 2023

In addition to hiring some ex-Binance employees, CommEx has taken things like design, application programming interfaces, or APIs, and even terms of use from Binance. “We asked for this to ensure a smooth user experience,” CZ wrote.

The Binance CEO also stressed that CommEx does not provide services to users based in the United States and Europe. CZ noted that European and U.S. residents will face intellectual property and Know Your Customer blocks when trying to access CommEx. “This is a term we asked for in the deal,” CZ stated.

According to data from CommEx representatives in the firm’s official Telegram group, CommEx users can trade without completing KYC checks for up to 2 Bitcoin (BTC), or about $54,000.

Related: Binance successor in Russia: Everything you need to know about CommEx, so far

CommEx’s unwillingness to disclose information about its owners, paired with having ex-Binance employees and similar website design and APIs, has fueled chatter about Binance being the company’s owner in disguise.

Adam Cochran, a partner at venture capital firm Cinneamhain Ventures, believes that CommEx is “just another shell company by Binance.”

On the other hand, some crypto observers believe that such a move would undermine Binance’s whole decision to leave Russia. “Obviously U.S. authorities could quickly determine if the new owners were simply straw men for Binance. This would make the situation look even worse than if Binance just held onto the business,” Lesperance & Associates founder David Lesperance told Cointelegraph.

Magazine: Web3 Gamer: Minecraft bans Bitcoin P2E, iPhone 15 & crypto gaming, Formula E

Share9Tweet6ShareSharePin2

Related Posts

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge
Bitcoin

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge

15.07.2025
0

BitcoinWorldCoinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge The cryptocurrency world is buzzing with excitement, and for good reason!...

Read moreDetails
Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

14.07.2025
Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

14.07.2025
Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

14.07.2025
Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

08.07.2025
Load More
Next Post
MakerDAO’s $MKR Hits 16-Month High at $1,500 Amidst Growing Revenue

MakerDAO’s $MKR Hits 16-Month High at $1,500 Amidst Growing Revenue

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Aave Price Surges Over 30% Following Recent Whale Activity

Aave Price Surges Over 30% Following Recent Whale Activity

2 years ago
Legacy Blockchain Is Holding Crypto Again, and Scalability Is the Key to Its Survival

Legacy Blockchain Is Holding Crypto Again, and Scalability Is the Key to Its Survival

6 months ago
MicroStrategy’s stock price more than doubles in 2023 in lockstep with Bitcoin

MicroStrategy’s stock price more than doubles in 2023 in lockstep with Bitcoin

2 years ago
Tornado Cash Developer Challenges Charges, Files Motion to Dismiss with Legal Arguments

Tornado Cash Developer Challenges Charges, Files Motion to Dismiss with Legal Arguments

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

BlackRock says clear US rulebook turns stablecoins into payment method of the ‘future of finance’

South Korean Central Bank Unveils New ‘Cryptoassets Department’

Crypto Price Prediction Today 29 July – XRP, Cardano, Shiba Inu

ChatGPT’s 28-Indicator XRP Analysis: 95% ETF Odds Ignite Battle Over $3.11 Support Line

StanChart predicts corporates will control 10% of Ethereum supply over time

Billionaire Calls for Buying More Bitcoin as U.S. Debt Spirals – Best Wallet Automates the Strategy, ICO Hits $14.3M

Trending

Turkish Ride-Hailing Giant Marti Announces Crypto Treasury Strategy, Allocates 20% to BTC
All news

Turkish Ride-Hailing Giant Marti Announces Crypto Treasury Strategy, Allocates 20% to BTC

30.07.2025
0

Marti Technologies, an Istanbul-based ride-hailing firm, announced that 20% of its cash reserves are allocated to Bitcoin....

Revolut Mulls Buying US Bank to Fast-Track American Licence: Report

Revolut Mulls Buying US Bank to Fast-Track American Licence: Report

30.07.2025
China’s DeepSeek AI Predicts the Price of XRP, Dogecoin and Solana by the End of 2025

China’s DeepSeek AI Predicts the Price of XRP, Dogecoin and Solana by the End of 2025

30.07.2025
BlackRock says clear US rulebook turns stablecoins into payment method of the ‘future of finance’

BlackRock says clear US rulebook turns stablecoins into payment method of the ‘future of finance’

30.07.2025
South Korean Central Bank Unveils New ‘Cryptoassets Department’

South Korean Central Bank Unveils New ‘Cryptoassets Department’

30.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz