Cryptocurrency
Binance Russia buyer tightlipped on owners, denies CZ involvement

Amid growing skepticism about CommEx — the mysterious buyer of Binance’s Russian division — the newly launched firm has continued denying Binance’s ownership involvement.
On Sept. 29, CommEx issued an open letter to the community, reiterating that the company is not owned by Binance, which announced its exit from Russia by selling the firm to CommEx.
“Although we do not disclose our UBO, we want to make it clear that we are not owned by Binance,” CommEx wrote on its website. A spokesperson for CommEx declined to comment to Cointelegraph about the reasons it won’t share any information about its owners.
“We are a vibrant and efficient start-up team, made up of dozens of passionate individuals from diverse backgrounds,” CommEx said in the announcement, adding that some of its core members are former Binance veterans.
The CommEx announcement said the firm has been developing its platform for six months, during which time it onboarded some ex-Binance employees. “This has allowed us to learn from Binance’s product and operations experiences, establishing indirect connections with them,” CommEx added.
The announcement confirms that former team members of Binance’s division in the Commonwealth of Independent States (CIS) are part of CommEx, despite Binance having no ownership in the exchange.
Former employees at Binance CIS will join or may have already joined the new firm, Binance CEO Changpeng Zhao said on X (formerly Twitter) on Sept. 28. “We think that is a good thing,” he added.
Some answers about Binance/CommEx.
There will be crypto transfers between Binance & CommEx as users migrate with their funds. There are also older transactions during the testing phase of the integrations. This is expected.
A few ex-Binance CIS team members may join their team,…
— CZ Binance (@cz_binance) September 28, 2023
In addition to hiring some ex-Binance employees, CommEx has taken things like design, application programming interfaces, or APIs, and even terms of use from Binance. “We asked for this to ensure a smooth user experience,” CZ wrote.
The Binance CEO also stressed that CommEx does not provide services to users based in the United States and Europe. CZ noted that European and U.S. residents will face intellectual property and Know Your Customer blocks when trying to access CommEx. “This is a term we asked for in the deal,” CZ stated.
According to data from CommEx representatives in the firm’s official Telegram group, CommEx users can trade without completing KYC checks for up to 2 Bitcoin (BTC), or about $54,000.
Related: Binance successor in Russia: Everything you need to know about CommEx, so far
CommEx’s unwillingness to disclose information about its owners, paired with having ex-Binance employees and similar website design and APIs, has fueled chatter about Binance being the company’s owner in disguise.
Adam Cochran, a partner at venture capital firm Cinneamhain Ventures, believes that CommEx is “just another shell company by Binance.”
On the other hand, some crypto observers believe that such a move would undermine Binance’s whole decision to leave Russia. “Obviously U.S. authorities could quickly determine if the new owners were simply straw men for Binance. This would make the situation look even worse than if Binance just held onto the business,” Lesperance & Associates founder David Lesperance told Cointelegraph.
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Cryptocurrency
Analyst: Skip Bitcoin FOMO, Altcoins Offer Better Gains Now

Bitcoin (BTC) has sent the crypto community into delirium, hitting a new all-time high (ATH) of almost $119,000 after brief stops around $113,000 and $116,000.
However, despite the excitement, prominent analyst CrediBULL Crypto has cautioned traders not to chase the rally blindly, suggesting that the real opportunity lies in altcoins, not Bitcoin.
Why BTC FOMO Could Be Costly
With BTC currently over 650% above its ideal accumulation zone, CrediBULL posted a stark warning on X:
“The big opportunity for gains is on ALTS even if Bitcoin is the one that is ‘leading’ this move.”
He added that anyone buying the asset at this particular point should only do so for an active trade with a clear setup.
“If you can’t identify a trade setup then there is no reason to buy Bitcoin at these levels as there are much better opportunities in alts from a R/R perspective at current levels.”
His comments echoed a broader sentiment emerging from key market voices, including former BitMEX CEO Arthur Hayes and YouTuber Crypto Rover, who likened the current market cycle to November 2024, when a major altcoin rally followed Bitcoin’s price surge.
In a recent tweet, Hayes said he had reversed his previously bearish stance, citing Bitcoin’s strong breakout and the rising dominance of Ethereum (ETH).
“Get ready for a monster alt szn,” he wrote, signaling increased institutional confidence. The crypto entrepreneur also reported that his Maelstrom Fund is ramping up altcoin exposure amid expectations of favorable political and macroeconomic shifts.
Observers have described the flagship cryptocurrency’s latest move as structurally different from past bull cycles. According to CryptoQuant, it isn’t driven by speculative angst, but rather by strategic accumulation and restrained selling activity.
Additionally, metrics like the MVRV ratio, currently 2.2 vs. over 2.7 in previous tops, SOPR, and MPI all hint at a sustainable rally with long-term potential. The drop in exchange balances, down over 21% in four months, also suggests that holders are in no rush to exit their positions.
Altcoins on the Mend
However, even with BTC in price discovery mode, Ethereum and several other altcoins are beginning to outshine it in percentage gains. ETH, for instance, is up by more than 18% in the last seven days, beating Bitcoin’s 8.9% rise in the same period. It has also reclaimed the $3,000 level and is setting its sights on $3,350–$3,500.
Meanwhile, Cardano (ADA) has pumped 23.7% across the week, reclaiming critical support at $0.64 and eyeing a return to $1. Hyperliquid (HYPE) is up nearly 19%, having set a new all-time high at $46.25, and is now targeting the $50 psychological threshold.
Even Solana (SOL) is catching a bid, with prices climbing above $164 and showing potential for a rally beyond $180.
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Cryptocurrency
XRP Breaks Free With Double-Digit Gains — Flips USDT in Market Shake-Up

TL;DR
- The consolidation phase for many altcoins, including XRP, seems to be over, and Ripple’s native token is on the run again toward $3.
- On its way up, it managed to surpass USDT in terms of market cap and is now back in the third spot after months of hiatus.
The graph above clearly demonstrates the price stagnation XRP had to endure for the past month or so. Its upper boundary was at around $2.6, while it also tested the lower one at $1.9 during the darkest hours of the war between Israel and Iran.
Nevertheless, each attempt met immediate rejections, and the cryptocurrency was pushed south to a tight range between $2.2 and $2.3. However, there were multiple signs that the consolidation could be coming to an end, and one analyst even warned that most traders will miss the breakout.
Such a price surge indeed started to materialize in the past few days, and especially today. XRP has been among the top performers on a daily scale, having surged by 20% at one point and coming close to $3 on most exchanges.
Although it was stopped there and now sits just under $2.8, it’s still up by over 12% since yesterday. Its market cap has spiked above $160 billion for the first time in months, and XRP has now become the third-largest cryptocurrency, by overtaking Tether’s USDT.
The move north was quickly picked up by the XRP Army, many of whom praised the asset’s performance and provided some bullish (and outrageous) predictions.
$XRP at $2,500 isn’t just a dream.
-Because a pump like 2017 would easily clear $2,000 ✅
Fact: The yearly resistance is now free so expect vertical price discovery. pic.twitter.com/A4G3PasuVk
— Crypto Bitlord (@crypto_bitlord7) July 11, 2025
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Cryptocurrency
Bitcoin Breaks ATH, Hayes Flips Bullish: ‘Maelstrom Is Backing Up the Truck’

BitMEX co-founder Arthur Hayes has decisively flipped bullish and even announced that Maelstrom Fund is “backing up the truck.” The exec’s comments came as Bitcoin (BTC) broke through its all-time high above $118K on strong volume.
He also revealed that Ethereum (ETH) began to follow with potential outperformance, and markets began pricing in a Trump administration’s readiness to ease trade tensions.
From Bearish to Bullish
This pivot follows Hayes’ prior cautious stance, which was rooted in concerns about a Treasury General Account (TGA) refill draining liquidity.
In his previous essay, Hayes explained that the US Treasury Secretary, whom he calls “The Big Bessent Cock (BBC),” faces an impossible task: funding ballooning deficits without causing a bond market revolt. To manage this, the government is turning to innovative liquidity engineering, including stablecoin adoption by “too big to fail” (TBTF) banks, which could unlock up to $6.8 trillion in T-bill buying power.
Hayes also noted that if the Fed stops paying interest on reserves, it could unleash another $3.3 trillion, bringing the total potential liquidity injection to $10.1 trillion.
He argued this approach was the modern replacement for QE, by maintaining equity markets and crypto afloat despite the Fed’s tightening posture. The exec warned that the TGA refill could briefly interrupt crypto’s bull momentum.
Despite this, Bitcoin’s resilience in busting through resistance while Ethereum appears to be positioning for a “monster alt season.”
“Frontloading Ahead of Trump Tariffs”
Adding to this backdrop, QCP Capital, in its latest analysis, also identified frontloading ahead of potential Trump tariffs as a key macro driver. Manufacturers are accelerating imports and production to preempt implementation, which has led to increased trade and manufacturing credit and improved liquidity conditions.
The firm views the current environment as supportive for continued crypto upside, with steady ETF inflows and strong structural demand boosting momentum.
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