Binance CEO Denies Claim that the Exchange Owns WazirX
![](data:image/svg+xml;utf-8,<svg xmlns="http://www.w3.org/2000/svg" width="736" height="475" />)
Binance CEO Changpeng Zhao has denied that Binance had acquired Indian crypto exchange WazirX. The denial comes after Indian authorities had taken action against the exchange as part of an AML probe.
Indian crypto exchange WazirX has been raided by the country’s Enforcement Directorate (ED), with authorities freezing about $8.1 million in funds as part of an AML investigation. Binance CEO Changpeng Zhao, meanwhile, has emphasized that Binance does not own any equity in WazirX’s parent company Zanmai Labs.
Zhao posted a tweet thread saying that it had never completed the transaction to acquire WazirX. He was referring to a blog post in Nov. 2019 that said that Binance had “acquired” WazirX.
The CEO said that Binance only provides wallet services for WazirX as a tech solution and a few other technical matters. He stated that WazirX alone was responsible for all other aspects of the exchange, including user registration, KYC, trading, and initiating withdrawals. Zhao ended the tweet thread by saying,
“Recent allegations about the operation of WazirX and how the platform is managed by Zanmai Labs are of deep concern to Binance. Binance collaborates with law enforcement agencies all around the world. We would be happy to work with ED in any way possible.”
However, the controversy has not ended with Zhao’s statements. WazirX founder Nischal Shetty posted his views a few hours after Zhao’s, saying bluntly that “WazirX was acquired by Binance.” He pointed to the Terms of Service of the exchange, and also said that “Binance owns the WazirX domain name,” “has root access of AWS servers,” “has all the crypto assets,” and “all the crypto profits.”
Source:
1 comment