Binance may have announced its exit from Russia, but the connection with the country remains alive. Even after stepping away in 2023, the platform continues to serve Russian users in a limited capacity. This has kept Binance and Russian cryptocurrency enthusiasts linked through different channels, especially Telegram. Despite officially leaving, Binance remains an essential part of Russia’s cryptocurrency scene.
Binance Continues Serving Russian Users
Although Binance declared a full exit from the Russian market in 2023, it has not entirely severed its ties. According to the company, they continue to support a small number of Russian users. This decision is driven by the need to ensure the safety of their digital assets. Binance has stated its commitment to complying with international sanctions, but this hasn’t stopped them from keeping a foothold in Russia’s crypto landscape. Users in Russia still have access to their assets, showing that Binance’s exit was not as absolute as it appeared.
Russian Telegram Channel Remains Active and Engaged
One major way Binance stays in touch with its Russian users is through its Russian-language Telegram channel. This channel has over 130,000 subscribers and continues to post regular updates. It provides news about new token listings and platform updates, keeping Russian crypto enthusiasts engaged. While users are told they can’t trade directly on the exchange, they remain connected to the exchange through Telegram. This makes the exit look more like a technical adjustment than a complete departure.
Binance’s Website Still Draws Russian Traffic
Despite the supposed exit, Russia remains one of the top traffic sources for Binance’s website. While visits from Russian users dropped by 43% between August 2023 and July 2024, Russia still accounts for 6% of the platform’s total traffic. This shows the strong connection between Binance and Russian cryptocurrency enthusiasts. The ongoing traffic suggests that the exchange remains relevant to many in Russia, even without an official presence.
Binance and CommEx Collaboration
When Binance announced its exit from Russia, it sold its local operations to a new exchange called CommEx. However, CommEx didn’t last long, shutting down by April 2024. While it denied direct ties to the crypto exchange, there were signs of overlap, with some former Binance employees joining CommEx. The quick shutdown of CommEx has left questions about Binance’s real involvement. Some users wonder if Binance will ever truly leave the Russian market or if this is just another chapter in their long relationship with the country.
The Future of Binance in Russia
Looking ahead, Binance’s future in Russia remains uncertain. While the exchange states its focus is on compliance and adhering to sanctions, its continued presence through traffic and Telegram shows that Russia still matters. As Russian users stay connected through limited services, it’s clear the crypto exchange hasn’t fully exited the scene. Whether they officially return or keep this quiet connection, Binance’s role in Russia’s cryptocurrency space is far from over.
