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CZ confirmed that Binance did encourage CommEX to have an identical design and technical options to Binance.
Changpeng Zhao (CZ) has denied claims that he stands out as the proprietor of CommEX, an organization whose identification continues to boost suspicion. CZ issued the disclaimer on Thursday in step with the rising speculations across the possession of the mysterious firm.
Recall that earlier this week, CZ announced that Binance was leaving Russia. Within the announcement, he acknowledged that the choice has to do with an ongoing investigation of the corporate that’s being carried out by the US Division of Justice which claims it might have violated sanctions.
In the meantime, on the identical day, studies additionally emerged that CommEX had purchased Binance’s enterprise in Russia.
However to the shock of many, there may be little or no enterprise historical past for CommEX. As a reality, the corporate seems to be only a few days outdated, and much more, it bears a detailed semblance to Binance nonetheless.
In a bid to finish all speculations about having any affiliations with CommEX, nonetheless, CZ has now taken to X (previously Twitter) to absolve himself of any such hyperlinks. His statement reads partly:
“I’m not their UBO [ultimate beneficial owner], nor do I personal any shares there.”
In the meantime, CZ additionally tried to dissuade any extra rumors that will stem from CommEX’s recruitment sample. He hinted that some former workers of Binance within the area have already joined the corporate. Zhao additionally shared that there’s a risk that many extra employees within the area might do the identical sooner or later.
Changpeng Zhao Explains Similarity Between Binance and CommEX
In line with Zhao, the similarity within the outlooks of each corporations was effectively thought out within the occasions main as much as the transition. CZ confirmed that Binance did encourage CommEX to have an identical design and technical options to Binance. Nonetheless, that’s solely to make sure a seamless transition, the CEO added.
Curiously, Binance has confirmed that there will likely be no such factor as a income cut up between the businesses. Binance additionally claims that there isn’t any choice to purchase again shares from the brand new firm. So, this means a “full” exit from Russia, with the transition anticipated to be accomplished inside just a few months.
Mayowa is a crypto fanatic/author whose conversational character is kind of evident in his type of writing. He strongly believes within the potential of digital property and takes each alternative to reiterate this.
He is a reader, a researcher, an astute speaker, and in addition a budding entrepreneur.
Away from crypto nonetheless, Mayowa’s fancied distractions embody soccer or discussing world politics.
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