Binance Employees Join CommEX
Binance, the world’s largest crypto exchange, has seen several of its former employees move to the new exchange, CommEX. Changpeng Zhao (CZ), the CEO of Binance, confirmed this on X (formerly Twitter), stating that it may not be a coincidence. He believes that the involvement of ex-Binance employees in CommEX is a positive development for both platforms.
There are noticeable similarities between Binance and CommEX, particularly in their user interfaces. CZ explained that this was intentional to ensure a seamless user experience. However, he clarified that he is not the ultimate beneficial owner of CommEX and does not own any shares in the exchange.
CommEX: A Familiar Exchange with Unique Features
CommEX has gained attention due to its association with Binance’s Russian business sale. The exchange offers features similar to Binance, including Spot, Futures, Simple Futures, and P2P services. However, it does not cater to users from the US or European Union.
CZ emphasized that there are IP and KYC blocks on CommEX as part of the deal between the two exchanges. He assured users that crypto transfers between Binance and CommEX will become common as users migrate their funds. Older transactions during the integration testing phase are also expected.
Hot Take: Binance Employees’ Move to CommEX Strengthens Crypto Ecosystem
The decision by former Binance employees to join CommEX is seen as a positive development for the crypto ecosystem. It suggests that CommEX has potential and credibility as a new exchange. The similarities between Binance and CommEX reassure users of a familiar experience while enjoying unique features offered by each platform.
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