Binance’s CZ clarifies position after ‘incorrect reports’ on WazirX ‘acquisition’
ambcrypto.comBinance CEO Changpeng Zhao has claimed that the company “does not own any equity” in Zanmai Labs, the parent company of Indian crypto-exchange WazirX. This, a day after India’s Enforcement Directorate (ED) froze WazirX’s bank balances worth $8 million earlier.
According to a statement, ED has been investigating WazirX since last year for its alleged role in a money laundering scheme. On 5 August, ED conducted searches on WazirX Co-founder and CTO Sameer Mhatre after suspicions emerged about links to Chinese loans apps.
Binance has been called into question since the legal probe began after CZ denied the acquisition of WazirX. In fact, CZ claimed on Twitter that the acquisition of WazirX “was never completed.”
Worth pointing out, however, that this acquisition was announced way back in November 2019. A later tweet from CZ confirmed the purchase, with the exec distinctly stating “Binance-owned Indian crypto exchange WazirX…”
<p lang=«en» dir=«ltr» xml:lang=«en»>» Binance-owned Indian crypto exchange WazirX crosses $200m in daily trading volume; eyes $1b in 2021 – The Financial Express https://t.co/t3GD7UwvYt— CZ
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