<\/p>\n
Amid growing skepticism about CommEx \u2014 the mysterious buyer of Binance\u2019s Russian division \u2014 the newly launched firm has continued denying Binance\u2019s ownership involvement.<\/p>\n
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.<\/p>\n
\u201cAlthough we do not disclose our UBO, we want to make it clear that we are not owned by Binance,\u201d CommEx wrote on its website. A spokesperson for CommEx declined to comment to Cointelegraph about the reasons it won\u2019t share any information about its owners.<\/p>\n
\u201cWe are a vibrant and efficient start-up team, made up of dozens of passionate individuals from diverse backgrounds,\u201d CommEx said in the announcement, adding that some of its core members are former Binance veterans.<\/p>\n
The CommEx announcement said the firm has been developing its platform for six months, during which time it onboarded some ex-Binance employees. \u201cThis has allowed us to learn from Binance\u2019s product and operations experiences, establishing indirect connections with them,\u201d CommEx added.<\/p>\n
The announcement confirms that former team members of Binance\u2019s division in the Commonwealth of Independent States (CIS) are part of CommEx, despite Binance having no ownership in the exchange.<\/p>\n
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. \u201cWe think that is a good thing,\u201d he added.<\/p>\n
\nSome answers about Binance\/CommEx.<\/p>\n
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.<\/p>\n
A few ex-Binance CIS team members may join their team,\u2026<\/p>\n