Binance: We have not shared any user’s data, including Alexei Navalny, with Russian Regulators. Also Binance: We have a page specifically designed for authorities(including Russia) to request user data. We have “legal obligations” to disclose such data. A CEX’s word just cannot be trusted.

Background: Reuters reported recently that the Russian Financial Intelligence Unit (Rosfin) met with Binance to ask them to disclose user data. Binance's head of Eastern Europe and Russia consented to Rosfin's request because "he didn't have 'much of a choice' in the matter"

……….

Binance then releases a wall of text defending itself. It starts off with a seemingly clear denial:

Suggestions that Binance shared any user data, including Alexei Navalny, with Russian FSB controlled agencies and Russian regulators are categorically false

Then buried deep down is this

Any government or law enforcement agency in the world can request user data from Binance as long as it is accompanied by the proper legal authority.

In fact, we have developed a landing page specifically for this purpose which has been in place for over one year which is used by leading law enforcement agencies from around the world.

Russia is no different

Fulfilling disclosure obligations to the authorities in each jurisdiction is a large part of becoming a regulated business and Binance fulfills its legal obligations.

Law enforcement agencies have been requesting data for over a year. Russia is no different. Binance fulfills such requests.

They then top it off with

And, to be clear. Binance has not sought to actively assist the Russian state in its attempts to investigate Alexi Navalny

"Actively assist" – meaning they didn't go to the Russians on their own. Russia asked first and then Binance disclosed all the data.

All of this is typical PR doublespeak to make everyone think they will protect their users while admitting that they wont. I see a lot of well-meaning people defending Binance over this article. But make no mistake – A CEX will always sell us out to protect itself.