Binance ‘Never Completed’ Acquisition of Troubled Crypto Exchange WazirX: CZ #togrp7

Crypto exchange Binance recently denied owning India-based crypto exchange WazirX, despite the company’s blog post from 2019 saying exactly the opposite. WazirX, meanwhile, insists the deal has indeed been completed. Binance first announced the acquisition of WazirX in November 2019 in a deal reportedly valued up to $10 million.

The dispute comes hot on the heels of last week’s reports that India’s Enforcement Directorate (ED) froze $8.14 million (64.67 Crore rupees) in assets from WazirX after the Mumbai-based company allegedly broke currency exchange regulations. Changpeng Zhao, the founder of Binance, took to Twitter last Friday to address “some incorrect reporting” and state that “Binance does not own any equity in Zanmai Labs, the entity operating WazirX.”#togrp7

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