According to ChainCatcher news, Binance founder CZ posted on social media that there will be cryptocurrency transfers between Binance and CommEx because users migrate funds. During the integration testing phase, some old transactions may still exist, this is normal. Some former Binance team members may join CommEx’s team, or have already done so. In addition, CZ said that CommEx’s design, API, etc. are similar to Binance. The reason why this design is required is to ensure a smooth user experience. CommEx does not provide services to US or EU users. CZ is not the actual beneficial owner (UBO) of CommEx and does not own any shares. There is no buyback option on this deal.
CZ: He is not the ultimate beneficiary of CommEx and does not hold shares. The characteristics of CommEx are only for the convenience of Russian users.
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