1 year ago
Amid increasing skepticism astir CommEx — Binance’s mysterious purchaser successful Russia — the recently launched steadfast has continued denying Binance’s ownership involvement.
On Sept. 29, CommEx issued an unfastened missive to the community, reiterating that the institution is not owned by Binance, which announced its exit from Russia by selling the steadfast to CommEx.
“Although we bash not disclose our UBO, we privation to marque it wide that we are not owned by Binance,” CommEx wrote connected its website. A spokesperson for CommEx declined to remark to Cointelegraph astir the reasons it won't stock immoderate accusation astir its owners.
“We are a vibrant and businesslike start-up team, made up of dozens of passionate individuals from divers backgrounds,” CommEx said successful the announcement, adding that immoderate of its halfway members are erstwhile Binance veterans.
The CommEx announcement said the steadfast has been processing its level for six months, during which clip they onboarded immoderate ex-Binance employees. “This has allowed america to larn from Binance's merchandise and operations experiences, establishing indirect connections with them,” CommEx added.
The announcement confirms that erstwhile squad members of Binance’s part successful the Commonwealth of Independent States (CIS) are portion of CommEx, contempt Binance having nary ownership successful the exchange.
Former employees astatine Binance CIS volition articulation oregon whitethorn person already joined the caller firm, Binance CEO Changpeng Zhao said connected X (formerly Twitter) connected Sept. 28. “We deliberation that is simply a bully thing,” helium added.
Some answers astir Binance/CommEx.
There volition beryllium crypto transfers betwixt Binance & CommEx arsenic users migrate with their funds. There are besides older transactions during the investigating signifier of the integrations. This is expected.
A fewer ex-Binance CIS squad members whitethorn articulation their team,…
In summation to hiring immoderate ex-Binance employees, CommEx has taken things similar design, APIs and adjacent presumption of usage from Binance. “We asked for this to guarantee a creaseless idiosyncratic experience,” CZ wrote.
The Binance CEO besides stressed that CommEx does not supply services to users based successful the United States and Europe. CZ noted that European and U.S. residents volition look IP and Know Your Customer blocks erstwhile trying to measure CommEx. “This is simply a word we asked for successful the deal,” CZ stated.
According to information from CommEx representatives successful the firm’s authoritative Telegram group, CommEx users tin commercialized without completing immoderate KYC checks for up to 2 Bitcoin (BTC), oregon astir $54,000 astatine the clip of writing.
Related: Binance successor successful Russia: Everything you request to cognize astir CommEx, truthful far
CommEx’s unwillingness to disclose accusation astir its owners, paired with having ex-Binance employees and akin website plan and APIs, has fueled chatter astir Binance being the company’s proprietor successful disguise.
Adam Cochran, a spouse astatine task superior steadfast Cinneamhain Ventures, believes that CommEx is “just different ammunition institution by Binance.”
On the different hand, immoderate crypto observers judge that specified a determination would undermine Binance’s full determination to permission Russia. “Obviously U.S. authorities could rapidly find if the caller owners were simply straw men for Binance. This would marque the concern look adjacent worse than if Binance conscionable held onto the business,” Lesperance & Associates laminitis David Lesperance told Cointelegraph.
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