wazirx: WazirX founder Nischal Shetty says Binance has “control” over India’s cryptocurrency exchange

WazirX founder Nischal Shetty said Binance, the world’s largest cryptocurrency exchange by volume, owns a stake in his company, hours after Binance CEO Changpeng Zhao said his company didn’t held shares in the Indian exchange.

In a series of tweets, Shetty wrote: “WazirX was acquired by Binance. Zanmai Labs is an Indian entity owned by me and my co-founders. Zanmai Labs is licensed by Binance to manage INR-Crypto pairs. WazirX Binance manages cryptocurrency pairs, processes cryptocurrency withdrawal… “.

In another separate tweet, Shetty responded to Zhao’s claims that Binance can shut down WazirX by saying, “We could shut down WazirX” – Prove you’re in control. “AWS Shared Access” – Hai

AWS ROOT Access! Anyone with root access controls AWS

“WazirX domain transferred to our control” – Nice to see you confirm this

The only control now is Zanmai, why don’t you take it ”.

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Shetty also said that WazirX is still owned by Binance.

In 2019, Binance claimed to have acquired WazirX, India’s largest cryptocurrency exchange. However, amid the continuing “cryptocurrency winter” and a recent freeze of WazirX accounts by the ED due to alleged money laundering, Binance claimed to have only served as a wallet service provider for WazirX.

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