Key Information:
- Vladimir Smerkis, previously leading Binance’s operations in Russia, has been arrested on fraud allegations, according to local media outlet TASS.
- The trading application Blum, which he co-founded, announced on Saturday via X that Smerkis had distanced himself from the project.
Details of the Arrest:
Smerkis was taken into custody by the Zamoskvoretsky District Court in Moscow, which approved the request from the investigator to detain him. The precise allegations relating to the fraud case remain undisclosed. CoinDesk has yet to receive a response from the Zamoskvoretsky District Court.
Background:
Having launched Blum in December 2023, Smerkis stated he would no longer function as the chief marketing officer of the app. His previous role at Binance spanned just under two years, where he was responsible initially for the Russian market and subsequently the broader Commonwealth of Independent States (CIS). According to LinkedIn, he has also served as a managing partner in several other ventures including Tokenbox.io.
Additional Context:
The CIS comprises eleven nations collaborating on significant matters like trade and legislative progress; notably, Russia is included in this group.
Binance has not provided comments on this incident.
