BREAKING: Binance exits Russia, sells business to CommEX
Binance fully exits Russia with sale of business to CommEX. Transition will last a year, the exchange said in an announcement on Wednesday, September 27. Binance has announced its exit from Russia, with its business sold to newly formed cryptocurrency exchange CommEX. An announcement on Wednesday stated that the exit comes after an agreement that sees it sell “the entirety of its Russia business” to the CommEX team. Binance fully exits Russian market While it did not disclose any financial details, Binance noted in the announcement that the off-boarding process will last one year. According to Binance , its deal with CommEX is unlike others that international companies struck in the wake of Russia ’s invasion of Ukraine and the launch of sanctions by EU and the US. It’s a full exit. “ Unlike similar deals from international companies in Russia , Binance will have no ongoing revenue split from the sale, nor does it maint...