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CZ confirmed that Binance has encouraged COMEX to have the same design and technical features as Binance.
Changpeng Zhao (CZ) has denied claims that he may be the owner of CommEX, a company whose identity continues to raise doubts. CZ issued a disclaimer Thursday in line with growing speculation over the ownership of the mysterious company.
Earlier this week, remember CZ announced He Binance Was leaving Russia. In the announcement, they said the decision is related to the company’s ongoing investigation by the US Justice Department, which it claims may have violated sanctions.
Meanwhile, on the same day, reports also surfaced that ComEx has bought Binance’s business in Russia.
But what surprised many was that CommEX had no business history. In fact, the company appears to be just a few days old, and what’s more, it still looks very similar to Binance.
However, to end all speculation regarding any association with CommEX, CZ has now taken to X (formerly Twitter) to clear itself of any such links. His statement Reads in part:
“I’m not their UBO [ultimate beneficial owner]Nor do I have any shares there.”
Meanwhile, CZ also attempted to quash any other rumors arising from COMEX’s hiring patterns. He indicated that some former Binance employees in the region have already joined the company. Zhao also shared that there is a possibility that many more employees in the region may do the same in the future.
Changpeng Zhao draws similarities between Binance and ComX
According to Zhao, the similarity in the approach of both companies was well thought out in the time before the change. CZ confirmed that Binance has encouraged COMEX to have the same design and technical features as Binance. However, this is only to ensure a seamless transition, the CEO said.
Interestingly, Binance has confirmed that there will be no such thing as revenue split between the companies. Binance also claims that there is no option to buy back shares from the new company. So, this implies a “complete” exit from Russia, with the transition expected to be completed within a few months.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his writing style. He strongly believes in the potential of digital assets and takes every opportunity to reiterate it. He is also a reader, a researcher, an astute speaker and a budding entrepreneur. However, away from crypto, Mayowa’s imaginary distractions include discussing football or world politics.
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