WazirX was acquired by Binance: Nischal Shetty

Nischal Shetty, the founder of WazirX exchange, took to Twitter to respond to Changpeng Zhao’s claims that Binance exchange does not own any equity in WazirX.

Shetty said that Binance owns WazirX while Zanmai Labs Private Limited is still owned by him and his co-founders.

Shetty tweeted, 

Shetty stressed that WazirX and Zanmai Labs are not to be interchanged.

Changpeng Zhao, the founder of Binance took to Twitter on Friday evening to deny owning any equity in Zanmai Labs Private Limited.

Zhao tweeted,

Quick thread on Binance and WazirX, and some incorrect reporting.

Binance does not own any equity in Zanmai Labs, the entity operating WazirX and established by the original founders.

1/4

— CZ 🔶 Binance (@cz_binance) August 5, 2022

This controversy comes amid regulatory trouble for WazirX from the Enforcement Directorate. ED announced in a statement on Friday that bank assets worth Rs 64.67 crore owned by the exchange had been frozen.

WazirX disagreed with the allegations put forth by ED. The exchange told Business Today, “We have been fully cooperating with the Enforcement Directorate(ED) for several days and have responded to all their queries fully and transparently. We do not agree with the allegations in the ED press release. We are evaluating our further plan of action.”

Also Read: WazirX bank assets worth Rs 67.67 crore frozen after ED searches - BusinessToday

Also Read: Binance denies owning equity in WazirX as exchange faces trouble with ED - BusinessToday