In recent turn of events, a war on Twitter broke out between WazirX’s founder, Nischal Shetty and Binance founder, Changpeng Zhao. Netizens on Twitter has also took upon the wave and are making sure to launch fresh memes.
When crypto boys realise that crypto is a sham 😂#WazirX #binance
pic.twitter.com/O7nLLrZlSb— Finance Memes (@Qid_Memez) August 7, 2022
On one hand Shetty of WazirX states that WazirX was acquired by Binance. Zanmai Labs, owned by Shetty and his co-founders is an Indian entity, which has license from Binance yo oeprate INR-Crypto pairs in WazirX.
Zhao of Binance on the other hand states that the transaction to acquire Wazirx was never completed.
Along with this, Zhao on Saturdayalso advised in his tweet that if users have funds on WazirX, they should transfer it to Binance. He said that they can disable WazirX wallets on a tech level but won’t do so.
Crypto experts are questioning the confusing assertion that Binance doesn’t have any equity in Zanmai Lab. They are also raising questions about the timing of Binance mentioning that it doesnt possess quity to Zanmai Lab. They are scratching their heads on why this was brought to light so late.
The Enforcement Directorate recently froze bank balance worth Rs 64.67 crore of crypto exchange WazirX on money laundering probe. The ED has also accused the crypto exchange firm of assisting 16 Indian fintech firms, in laundering proceeds of crime by transferring money to unknown foreign wallets.
