WazirX’s Nischal Shetty, Binance CEO Zhao Counter Every Different Over Possession


India’s probe in opposition to WazirX triggered claims and counterclaims over the possession of the crypto trade between founder Nischal Shetty and Binance Chief Govt Officer Changpeng Zhao.

That got here after the Enforcement Directorate froze property price Rs 64.7 crore of WazirX on fees that it helped prompt mortgage app corporations launder fraudulent funds.

Binance’s CEO mentioned it doesn’t personal Zanmai Labs Pvt., the operator of WazirX.

Binance has by no means, at any cut-off date, owned any shares in Zanmai Labs, Zhao tweeted. Binance solely offers pockets companies to WazirX as a tech answer, he mentioned.

The latest allegations about WazirX’s operations are of deep concern to Binance, Zhao mentioned.

In November 2019, Binance had printed a weblog submit that it acquired WazirX. Nonetheless, the transaction was by no means concluded, the Binance CEO mentioned.

Shetty, nonetheless, countered this.

“WazirX was acquired by Binance. Zanmai Labs is an India entity owned by me & my co-founders Zanmai Labs has license frm Binance to function INR-Crypto pairs in WazirX,” he tweeted. “Binance operates crypto to crypto pairs, processes crypto withdrawal…”

A WazirX spokesperson mentioned in a separate assertion that the corporate is has been “absolutely cooperating with the Enforcement Directorate (ED) for a number of days and have responded to all their queries absolutely and transparently”. “We don’t agree with the allegations within the ED press launch. We’re evaluating our additional plan of motion.”

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