Binance, WazirX ownership row has crypto users in knots

 A public spat between global cryptocurrency platform  #Binance CEO #Changpeng Zhao, known as CZ, and #WazirX cofounder #Nischal Shetty has dealt a blow to the 15 million or so users of the Indian crypto exchange. 

Meanwhile, Zanmai Labs, which operates WazirX in India, is exploring the legal route amid an ownership dispute with Binance, the world’s largest exchange by volume, sources told us.

https://img.etimg.com/thumb/msid-93414238,width-650,imgsize-489916,,resizemode-4,quality-100/wazirx-to-assist-developers-to-build-their-crypto-exchange-will-release-apis.jpg
Zhao tweeted on Saturday that users on WazirX should transfer their funds to Binance, causing widespread panic, investors told ET.

“We could shut down WazirX. But we can't, because...It hurts users,” CZ tweeted on Saturday.



https://economictimes.indiatimes.com/tech/startups/binance-wazirx-ownership-fight-has-users-in-a-fix/articleshow/93413993.cms?utm_source=newsletter&utm_medium=email&utm_campaign=update&ncode=407eb2f88b21e505df07a243390bea6f332fcf307879a0d7d79b3f3a67fd43a51a69a1bb539bb02212f4f3c9aadf5457cefd8141944e82abdc199cab168e4548c8ecf4920ae3e14f5ddfae7e57cba2c7

Comments

  1. AnonymusAugust 8, 2022 at 11:29 PM

    Crypto exchange WazirX on Monday attempted to allay the concerns of its employees, days after the Enforcement Directorate froze its banks assets, leading to a public spat between WazirX CEO Nischal Shetty and Binance CEO Changpeng Zhao, also known as CZ.

    Driving the news: WazirX’s human resources department told employees in a Slack message that it disagrees with the ED’s allegations.

    “In the light of recent news about WazirX, we wanted to let you know that we have been fully cooperating with the ED and have responded to all their queries fully and transparently. We do not agree with the allegations in the ED press release and are evaluating our plan of action,” read the Slack message, which we have reviewed.

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