- Binance sells its Russian operations to fresh-faced CommEX.
- No revenue split from the sale; transition expected to span a year.
- Major global firms pivot away from Russia amid geopolitical tensions.
In a recent twist of events, Binance, the globe's most colossal cryptocurrency exchange, announced its plans to part ways with its Russian operations. They've handed the baton to the newcomer in the crypto arena, CommEX.
Though the specifics of the deal remain under wraps, Binance made it clear that they won't be pocketing any ongoing profits from this sale. Interestingly, Binance's Chief Compliance Officer, Noah Perlman, hinted at the decision being in line with the company's compliance goals, though he tactfully avoided any direct mention of the ongoing tensions between Russia and Ukraine. For those wondering about their digital assets in Binance's Russian domain, breathe easy! They're in safe hands, and the transition will be smooth, albeit spread over a year. And if you're wondering about CommEX, they're the new kid on the block, backed by some major crypto bigwigs, although they've been a tad tight-lipped about their recent acquisition.
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