Binance CEO Changpeng Zhao has stated that the global cryptocurrency alternate “never performed” the acquisition of Indian crypto alternate WazirX.
Zhao’s comments near after India’s financial crime watchdog announced it had frozen WazirX resources fee over 646 million rupees (about $8 million, £6.7 million). The freeze, India’s Enforcement Directorate (ED) stated in a Friday announcement, adopted an investigation round money laundering, and which alive to 16 fintech companies.
In its press free up, the ED says:
“Zanmai Labs Pvt Ltd – the corporate owning WazirX Crypto Substitute – has created a web based of agreements with — Crowdfire Inc. USA, Binance (Cayman Islands), Zettai Pte Ltd Singapore — to vague the ownership of the crypto alternate.”
Binance CEO Zhao stated in a tweet:
“On 21 Nov 2019, Binance published a weblog post that it had “bought” WazirX. This transaction used to be never performed. Binance has never – at any point – owned any shares of Zanmai Labs, the entity running WazirX.”
2/ On 21 Nov 2019, Binance published a weblog post that it had “bought” WazirX. This transaction used to be never performed. Binance has never – at any point – owned any shares of Zanmai Labs, the entity running WazirX.
— CZ 🔶 Binance (@cz_binance) August 5, 2022
In step with CZ, as the Binance chief is popularly identified around the crypto ecosystem, his platform “most effective affords wallet companies and products for WazirX.”
This, he notorious, is most effective equipped as a technological solution and that the Mumbai-essentially essentially based entirely company handles all other alternate aspects, including particular person registration, Know Your Buyer (KYC) and purchasing and selling amongst others.
“Recent allegations about the operation of WazirX and how the platform is managed by Zanmai Labs are of deep scenario to Binance. Binance collaborates with law enforcement agencies all the contrivance thru the world. We would be glad to work with ED in anyway conceivable,” CZ added.
ED stated its investigations into WazirX began in 2021 and the platform has no longer cooperated with the agency.
