Binance’s mysterious buyer in Russia, CommEx, insists that its owners have nothing to do with Binance, but doesn’t disclose anything about them.
“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 they 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 are part of CommEx, despite Binance having no ownership in the exchange.said on X on Sept. 28. “We think that is a good thing,” he added.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.
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 IP and Know Your Customer blocks when trying to assess CommEx. “This is a term we asked for in the deal,” CZ stated.
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