CEO of WazirX requests that CZ reveal Binance’s parent company

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Last Updated on August 7, 2022 by Bitfinsider

On Saturday, the verbal conflict between Nischal Shetty, CEO of WazirX, and Changpeng Zhao, CEO of Binance, reached a new level. The leaders of both cryptocurrency exchanges are squabbling and accusing one another of being in total control.

In a recent attack, the CEO of WazirX said that the parent company of Binance was a party to the agreement between the two exchanges. He added that they inquired about the structure of the biggest cryptocurrency exchange in the world after reading media reports about it.

Source: Twitter

WazirX did, however, get some contradictory responses on the underlying organization. According to Nishcal, Binance stated that it is undergoing restructuring. He said that his team has been waiting for Binance’s parent company for several months.

Nischal Shetty requested in a letter to Binance, requesting for the identity of its Parent Entity. He did point out that WazirX Technology was part of the initial arrangement. Later, Binance granted Zanmai a license to use the same technology for the INR market.

He emphasized that the Binance is doing the crypto-crypto trading with crypto deposits and withdrawals after receiving licensing. Zanmai is running INR-Crypto trading in the interim using INR deposits and withdrawals.

Nischal disputes claims of non-cooperation

Binance requested the handover of the Indian cryptocurrency exchange’s system source code, deployment, and operations back in February 2022, according to a tweet from CZ earlier that day. He said that Binance had no control over the systems and WazirX has rejected this.

Binance Chief even asserted that WazirX failed to cooperate with them and that similar circumstances exist in ED cases.

WazirX CEO, however, made it clear that Binance’s team was attempting to seize control of Zanmai in February. CZ may simply purchase shares of Zanmai if he still wants to take control of the company. He denied CZ’s assertion of lack of collaboration and said they have been cooperating with ED for the previous seven days. They have provided the agency with all the necessary data that was requested.


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Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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