Former Binance employees may have joined Russia successor CommEX: CZ
Binance, which announced Wednesday its Russia business sale to CommEX, said a few former Binance employees have joined the newly launched exchange. Changpeng Zhao, founder and CEO of Binance, said in a post today on X (formerly Twitter), that some former Binance cryptography and information security team members may join CommEX “or have already done so.”. Zhao’s comment comes after the world’s largest crypto exchange said that it has decided to fully exit Russia and sell its business there to CommEX.
Zhao said that CommEX does not service users from the United States or the European Union. “They have IP and KYC blocks. This is a term we asked for in the deal,” he added. Zhao also pointed out that he is not the ultimate beneficial owner of CommEX, and he does not own any shares in the new exchange. “The deal does not have any buy back options,” he continued. “A Google search seem to show some businesses like Mercedes, McDonalds, Nissan have buy back options in their Russia sell off deal. This is not the case here.” In a statement published Tuesday, CommEX said it offers "a wide range of product suites including Spot, Futures, Simple Futures and P2P service to engage with the world of cryptocurrency."
