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In a current letter addressed to the CommEX neighborhood, the cryptocurrency change platform has responded to rising issues about its possession and its connections to Binance. They needed to be clear that they purchased a part of Binance however aren’t owned by Binance and mentioned that transparency is their focus.
In accordance with the letter, CommEX’s collaboration with former Binance workers and its technological prowess performed a pivotal function in Binance’s choice to promote its Russian enterprise to CommEX. The platform sees centralized exchanges (CEXs) as important gamers within the crypto trade, providing safety and comfort for customers.
The letter mentioned, “Though we don’t disclose our UBO, we need to make it clear that we’re not owned by Binance.”
The corporate has been in growth for the previous six months, drawing on the data and experiences of ex-Binance workers. This collaboration displays a shared dedication to consumer pursuits, evident in developments resembling Oauth login and payment reductions for these utilizing BNB to pay CommEX charges.
Innovation stays on the coronary heart of CommEX’s imaginative and prescient for the longer term. The corporate guarantees to launch operational plans for the platform in the end, inviting the neighborhood to remain engaged and observe updates by way of their neighborhood channels.
Nonetheless, in keeping with Adam Cochran, the issue is, Commex appears a bit mysterious. It was once a bank card firm however not too long ago had its web site area up on the market, and it was simply up to date this month. One other unusual factor is that Binance used to have a service referred to as Binance Cloud, but it surely doesn’t exist anymore. So, it’s puzzling how Commex may very well be utilizing it.
Cochran thinks Commex is perhaps a secret firm arrange by Binance to maintain getting cash from Russian individuals with questionable backgrounds.
He had mentioned on X, “Commex is simply one other shell firm by Binance, to proceed to try to revenue from Russian oligarchs and struggle criminals. there’s a motive that the Russian OTC web site “Finest Change” solely lists two key exchanges in its high choices.”
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