Summary
Binance sold its Russian business to CommEX due to compliance concerns, with no revenue split and founder Changpeng Zhao denying ownership.
Key Points
1. Binance sold its Russian business to CommEX in September last year due to compliance concerns.
2. The exchange was officially launched the day before the news of the sale was announced.
3. Binance’s founder, Changpeng Zhao, denied owning the exchange and stated that there would be no ongoing revenue split from the sale.