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Fortune
Fortune
Ben Weiss

Binance sells Russian operation to crypto exchange that officially launched hours prior to announced deal

Binance United States Russia Crypto Changpeng Zhao Fortune
Richard Tang, head of regional markets at Binance, speaks during a recent conference in Singapore. (Credit: Joseph Nair—Bloomberg/Getty Images)

The world’s largest crypto exchange continues to shrink its global operations amid heightened scrutiny from regulators and prosecutors.

On Tuesday, Binance announced it was selling its Russian entity to CommEX, another crypto platform whose X (formerly Twitter) account says—as well as its website—that the exchange officially launched the same day. Neither party disclosed financial details.

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