{"id":85103,"date":"2023-09-28T12:10:30","date_gmt":"2023-09-28T09:10:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85103"},"modified":"2025-09-12T21:19:32","modified_gmt":"2025-09-12T18:19:32","slug":"binance-chief-reveals-details-of-russian-business-transfer","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-chief-reveals-details-of-russian-business-transfer\/","title":{"rendered":"Binance chief reveals details of Russian business transfer"},"content":{"rendered":"<p>The chief executive of the cryptocurrency exchange Binance, Changpeng Zhao, disclosed details of the deal to sell the Russian business CommEX.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Some answers about Binance\/CommEx.<\/p>\n<p>There will be crypto transfers between Binance &#038; CommEx as users migrate with their funds. There are also older transactions during the testing phase of the integrations. This is expected.<\/p>\n<p>A few ex-Binance CIS team members may join their team,\u2026<\/p>\n<p>\u2014 CZ ? Binance (@cz_binance) <a href=\\\"https:\/\/twitter.com\/cz_binance\/status\/1707293387001307551?ref_src=twsrc%5Etfw\\\">September 28, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n\\n<\/p>\n<p>He said that crypto transfers will be actively carried out during the migration of funds and users between the platforms.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>Several former regional members of the Binance team may join CommEX or have already done so, Zhao noted.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>The executive added that the design and the API on the new exchange will be the same as the old one. This is deliberate to facilitate user experience, he noted.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>CommEX will not serve customers from the United States or the European Union \u2014 this is a condition Zhao set for the deal. To meet the requirements, IP-address blocking and a Know Your Customer (KYC) system are provided on the platform.<\/p>\n<p>\\n\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\\n<\/p>\n<p>\u201cI am not their ultimate beneficiary and do not own any shares there. The deal does not provide for a buyback. A Google search shows that some companies such as Mercedes, McDonalds and Nissan have such an option under the sale of a Russian business. In our case, this is not the case,\u201d Binance CEO concluded.<\/p>\n<p>\\n<\/p><\/blockquote>\n<p>\\n\\n\\n<\/p>\n<p>In late August, Binance <a href=\"https:\/\/u1f987.com\/en\/news\/binance-drops-sber-and-tinkoff-names-amid-us-doj-investigation\">removed<\/a> from its P2P platforms banks under U.S. sanctions \u2014 Sber, Tinkoff and Alfa.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>The exchange <a href=\"https:\/\/u1f987.com\/en\/news\/binance-limits-russians-to-p2p-trades-in-rubles-only\">barred Russians from exchange operations with any fiat currencies except the ruble<\/a>.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>In early September, Binance <a href=\"https:\/\/u1f987.com\/en\/news\/binance-parts-ways-with-top-managers-overseeing-russia\">left<\/a> the head of Eastern Europe, Gleb Kostarev, and the head of the CIS, Vladimir Smerkis. Both were responsible for the company\u2019s operations in Russia.<\/p>\n<p>\\n\\n\\n<\/p>\n<p>On September 27 the platform officially <a href=\"https:\/\/u1f987.com\/en\/news\/binance-to-exit-the-russian-market\">announced<\/a> its exit from the Russian market.<\/p>\n<p>\\n\\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The chief executive of the cryptocurrency exchange Binance, Changpeng Zhao, revealed details of the deal to sell the Russian business CommEX.<\/p>\n","protected":false},"author":1,"featured_media":85104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,935,1318,27],"class_list":["post-85103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-changpeng-zhao","tag-commex","tag-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=85103"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85103\/revisions"}],"predecessor-version":[{"id":85105,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85103\/revisions\/85105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/85104"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=85103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=85103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=85103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}