Binance, the world’s biggest cryptocurrency exchange, is exiting Russia by selling its business in the country to a venue that launched only a day ago.
Binance on Wednesday said it intends to cease all exchange services and business operations in the country over the coming months and would sell the assets for an undisclosed sum to CommEX.
After this, it will not retain any ongoing revenue shares from the sale or have any buyback options, “unlike similar deals from international companies in Russia”, it added.
Read the full story on the Financial Times here.