CommEX Says They Are Not Owned by Binance, But Some Core Members Are Ex-Binance Veterans

CommEX Says They Are Not Owned by Binance, But Some Core Members Are Ex-Binance Veterans

CommEx, the firm that has recently acquired Binance's Russian division, has said that it is not owned by Binance but disclosed that some of its core members are the exchange's previous employees.

In a Friday open letter, CommEx claimed it is an independent entity separate from Binance despite refraining from disclosing its ultimate beneficial owner (UBO).

“Although we do not disclose our UBO, we want to make it clear that we are not owned by Binance,” the letter reads.