WazirX Financial News

03.10 / 16:47

Binance CEO WazirX Crypto Exchange Indian Indian Crypto Exchange WazirX Lays Off 40% of Workforce

Major Indian crypto exchange WazirX has laid off about 40% of its employees, citing a fall in trading volumes due to the bear market and the regulatory climate in India.

03.10 / 13:07

cryptocurrency Binance WazirX Bitcoin Crypto Exchange WazirX Lays Off 40% Staff Amid Crypto Winter

It is said that as many as 70 employees or 40% of the exchange's workforce of 150 were laid off.

24.09 / 06:53

cryptocurrency coinbase WazirX Zebpay Crypto exchange ZebPay's CEO Avinash Shekhar quits; to launch his own web 3.0 start-up

As the going continues to get tougher for Indian cryptocurrency start-ups, ZebPay Chief Executive Officer (CEO) Avinash Shekhar has decided to move on. This comes a month after Chief Financial Officer (CFO) Tarun Jain left the company, multiple sources aware of the matter said.

14.09 / 08:39

WazirX crypto market Money laundering WazirX says ED unfreezes bank accounts; investigation continues

WazirX, Enforcement Directorate (ED) unfroze its bank accounts, which were earlier blocked to investigate money laundering acts. That said, the agency would continue to probe the matter. In a media release on Monday, the crypto exchange said that its bank accounts have been unfrozen after a month. WazirX can now continue its banking operations as usual. In August, ED conducted searches at the premises of M/s Zanmai Lab Pvt Ltd, the parent company of WazirX and its directors and froze the bank accounts for alleged money laundering. ED probed at least 10 cryptocurrency exchanges for allegedly laundering more than Rs 1,000 crore, identified as proceeds of crime from the firms accused in the instant loan-app case.

12.09 / 10:59

cryptocurrency Binance WazirX Backed Binance-Backed WazirX Says India Unfreezes Bank Accounts

WazirX, owned by the world's largest digital currency exchange Binance, said on Monday that India's financial crime-fighting agency has unfrozen the bank accounts of the unit after more than a month in a case involving suspected violation of foreign exchange regulations.

14.08 / 15:43

WazirX Vauld Crypto Exchange Bitcoin ED freezes Rs 370 crore of bank, crypto balances of Bengaluru ‘shell company’

ED) said on Friday it has attached assets worth Rs 370 crore belonging to a Bengaluru-based company linked to the instant loan apps case. The assets were parked in bank accounts, payment gateway balances, and wallets on the Flipvolt crypto exchange. Flipvolt is the Indian arm of Singaporean crypto lender Vauld.

12.08 / 20:25

cryptocurrency WazirX Vauld ED freezes Vauld’s bank assets worth Rs 370 crore in money laundering probe

In another instance of never ending trouble for crypto lending platform Vauld, the Enforcement Directorate (ED) on Friday said that it is freezing bank balances, payment gateway balances and crypto balances of worth Rs 370 crore for allegedly assisting predatory lending apps under ED’s investigation at present.

11.08 / 18:09

WazirX Enforcement Directorate Crypto Exchange WazirX Episode Reveals Darker Side Of Crypto: Government Sources

Government sources said the WazirX episode has brought to fore a lot of issues. (Representational)

11.08 / 12:47

WazirX Enforcement Directorate Crypto exchanges accused of laundering Rs 1,000 crore

Enforcement Directorate (ED) is probing at least ten cryptocurrency exchanges for allegedly laundering more than Rs 1,000 crore identified as proceeds of crime of the accused firms under investigation in the instant loan app case most of them having a China link, said people aware of the matter. The probe has unearthed instances of the accused firms approaching the exchanges to buy crypto coins for more than Rs 100 crore and crypto coins being sent to international wallets, the people told ET on condition of anonymity.

11.08 / 10:41

cryptocurrency WazirX Crypto Exchange Crypto Money Laundering Probe Points To A China Link: Report

The officials under the scanner are likely to be called for questioning again next week by probe agency.

10.08 / 08:41

cryptocurrency Binance WazirX WazirX is an intermediary whose platform was misused: Zanmai Labs on ED’s order

Amidst ongoing clash with Binance and Enforcement Directorate (ED) freezing its bank assets, WazirX’s parent Zanmai Labs on August 9 issued a statement saying that all its users are KYC compliant and WazirX acts like an intermediary who's platform was misused.

10.08 / 08:41

cryptocurrency Binance WazirX controversy WazirX trading volumes tank over 50% amid ED probe, ownership controversy

Crypto exchange WazirX, which has been in an ugly spat with Binance over its ownership, has seen trading volumes tank by more than 54 percent over the last five days. This comes at a time when trading volumes of Indian exchanges are already at their lowest.

09.08 / 16:31

cryptocurrency Binance WazirX Crypto Exchange ED investigation, Binance break-up—is brand WazirX crumbling?

Jaskaran Arora, 27, who runs a digital advertising agency in Mumbai, has been investing in cryptocurrencies through WazirX for four years now. The platform has been his go-to suggestion to any friends and family wanting to invest in crypto tokens, especially over the past one or two years. A major reason for that has been that WazirX is backed by Binance.

09.08 / 15:05

Binance WazirX NOT Binance says it does not manage WazirX users’ funds

crypto exchange Binance said it would remove off-chain fund transfers with WazirX, three days after the Directorate of Enforcement (ED) raised concerns about such transactions. ET first reported on August 8 that Binance had disabled off-chain transfers with WazirX. Off-chain transfers, as the name suggests, are those that take place off the blockchain to save time and money.

09.08 / 10:33

cryptocurrency Binance WazirX Deal Binance-WazirX spat: Opaque ownership, a hazy acquisition deal, and off-chain transactions

“We always thought that Binance owned WazirX. Binance even sent all of us WazirX employees Apple watches last year during their anniversary around July,” said a former WazirX employee requesting anonymity.

09.08 / 06:11

cryptocurrency Binance WazirX Bitcoin Cryptocurrency Prices Today August 9: Bitcoin up marginally, Ethereum gains 3% as major cryptos trade in green

Major cryptocurrencies traded in the green early on August 9 as the global crypto market cap rose 1.80 percent to $1.12 trillion from the previous day. On the other hand, the total crypto market volume dropped 71.78 percent to $70.81 billion over the last 24 hours.

08.08 / 18:55

cryptocurrency Binance WazirX WazirX didn’t pass ownership, heated debates have been on for 2 years: Binance

As the clash between WazirX and Binance escalates, a senior executive from the latter revealed that WazirX has been avoiding to pass on full ownership of its assets to Binance for the past two years. The global cryptocurrency trading platform will not engage with WazirX in the future, especially with the ongoing Enforcement Directorate (ED) investigation.

08.08 / 16:09

cryptocurrency Binance WazirX Binance to cease off-chain fund transfers with WazirX

Following a series of tweets from its CEO Changpeng Zhao (known as CZ), Binance on August 8 said it will remove the off-chain fund transfer channel between WazirX and Binance from August 11.

08.08 / 11:13

business cryptocurrency Binance WazirX Indian What the WazirX-Binance rift is, and what it means for Indian crypto investors

Binance, the world’s largest cryptocurrency exchange by trading volumes, proudly announced it had ‘acquired’ WazirX, in a blog post on November 21, 2019, however Binance CEO Changpeng Zhao has now shocked the Indian crypto exchange and the global crypto community by reneging on the agreement between the two parties.

08.08 / 07:37

business cryptocurrency Binance WazirX place Legal documentation in place to prove WazirX owned by Binance: Nischal Shetty

WazirX founder Nischal Shetty said he has all the legal documents to prove that Binance controls all crypto-to-crypto trading and crypto deposits and withdrawals on the platform.

08.08 / 06:57

Binance WazirX stake NOT Binance says does not hold stake in WazirX

Binance does not own any stake in Indian cryptocurrency exchange WazirX, the global crypto platform’s founder told ET on Friday. This follows a money laundering investigation against Zanmai Labs – WazirX’s parent entity — by the Directorate of Enforcement (ED). “Binance does not own any shares in Zanmai Labs, the entity operating WazirX and established by the original founders,” founder and chief executive Changpeng Zhao told ET in response to queries about the ED probe.

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