Changpeng “CZ” Zhao on Thursday denied that he is the owner of CommEX, the mysterious company that has bought Binance’s business in Russia. Binance, of which CZ is the founder and chief executive officer, this week announced it was quitting Russia after reports of a U.S. Department of Justice investigation into sanctions violations. That led to questions around the identity of CommEX – a company with similar user look and feel to Binance, and which appears to just be a few days old. “I am not their UBO [ultimate beneficial owner], nor do I own any shares there,” CZ said of CommEx in a post on X, formerly Twitter, adding that a few former Binance staff from the region have gone to work for CommEX, or may do so in future.
