Binance Denies Acquiring Troubled Crypto Exchange WazirX

Crypto exchange Binance has denied owning India-based crypto exchange WazirX.

A blog post by Binance from 2019 had stated otherwise.

WazirX, meanwhile, insists the deal has indeed been completed.

The dispute comes hot on the heels of last week’s reports that India’s Enforcement Directorate (ED) froze $8.14 million (64.67 Crore rupees) in assets from WazirX.

WazirX had aallegedly broke currency exchange regulations.

Changpeng Zhao, the founder of Binance, took to Twitter last Friday to address “some incorrect reporting.”

Zhao stated that “Binance does not own any equity in Zanmai Labs, the entity operating WazirX.”

Zhao said that “this transaction was never completed” and that the company “has never – at any point – owned any shares of Zanmai Labs.”

Zhao claimed in a series of recent tweets, “Binance only provides wallet services for WazirX as a tech solution,” as well as an integration of off-chain transactions to save on network fees.

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