Airdrop Army

So Binance supposedly waved “до свидания” to Russia back in 2023, right? Yeah, not exactly. Fast forward, and they’re still keeping the lights on for a few select Russian folks. Apparently, they’re just sticking around to make sure those users’ coins stay snug and secure, or at least that’s what the talking heads over at Binance said to Cointelegraph on Sept. 25.

“We’re sticking with a limited crew, only existing users tho, cuz you know, safety and security of assets is what matters most,” some Binance spokesperson said. But don’t get it twisted, they were all about the sanctions too. “We’re playing by the rules, global sanctions, and everything,” they added.

Didn’t they say they were leaving Russia? Yeah. They sold their ops to some unknown shop called CommEx. That was supposed to be the big break-up. But in 2023, Binance’s compliance guy, Noah Perlman, was all like, “Running in Russia? Nah, doesn’t work for us. Doesn’t line up with our compliance game.” But now they’re still hanging in there.

CommEx: Binance’s Ghost?

Now let’s talk about this CommEx, the ‘new kid on the block’—more like a ghost in the machine, tbh. They were the ones to pick up Binance’s old business in Russia, but they never dropped any names. No founders, no big wigs. The whole thing’s a mystery. And surprise, surprise, some of the crew over at CommEx used to work for Binance Russia. Coincidence? Hmm.

But CommEx? Yeah, they’re calling it quits too. Announced they’re shutting down by April 2024. Came and went like a ghost.

Traffic’s Down, But Russia Ain’t Out

Binance may have thrown in the towel on paper, but if you’re keeping score, Russia’s still showing up in the traffic charts. Yeah, website visits dropped like 43% from August ‘23 to July ‘24, but here’s the thing—Russia still makes up 6% of Binance’s global traffic. That’s like neck and neck with Turkey and Vietnam. So, are they really gone? Hard to say. Binance is being cryptic, like always.

They’re all, “We’re just serving a few old-school Russian users.” That’s it? Or is it? No one’s saying more.

Telegram’s Still Poppin’

And let’s not forget the Telegram party. Binance’s Russian-language channel is still vibing with 130,000 subscribers. They’re still dropping updates, like token listings and whatnot. Even after telling Russians they’re out, the channel’s still saying, “Hey, Russian folks who live abroad, you can still roll with Binance P2P if you prove where you live.”

So yeah, Binance said they left Russia, but the trail’s still hot. Feels like they’ve got one foot out the door, and one foot still in.