Fri, February 23

Verbal Scuffle Between Binance CEO and WazirX CEO Continues

Binance Introduces New Features for Web3-focused Social platform Binance Feed Exchange News
  • Nischal Shetty asked in his tweets to reveal Binance’s parent company.
  • According to Binance’s CEO, WazirX did not cooperate with them.

On Saturday, the verbal scuffle between Binance CEO Changpeng Zhao and WazirX CEO Nischal Shetty reached a different level. The CEOs of both crypto exchanges are criticizing each other for having complete control of the business.

It was revealed in a new assault that Binance’s parent company was engaged in the agreement between WazirX and the exchange. According to him, they inquired after reading about the structure of the world’s biggest crypto exchange in the media.

Who is the Real Stakeholder?

Nischal Shetty asked to reveal Binance’s parent company. It was also said that the sale of WazirX Technology (IP) was part of the initial agreement, however. As time went on, Binance granted a license to Zanmai to use the technology in the Indian rupee market.

Following Binance’s license, crypto-crypto trading is now taking place, with cryptocurrency deposits and withdrawals being made. Zanmai, on the other hand, is running an INR-Crypto trading platform that accepts and withdraws INR.

Prior to this, CZ claimed in a tweet that Binance had requested in February 2022 the handover of the Indian crypto exchange’s system source code, implementation, and operations. He said that WazirX rejected this and Binance has no control over the systems. According to Binance’s CEO, WazirX did not cooperate with them and the same thing might be with the ED case.

WazirX CEO, on the other hand, stated clearly that Binance’s team was interested in acquiring Zanmai in February. If CZ wants control of Zanmai, he may simply purchase shares in the company. According to him, they have been working with ED for the last seven days, denying CZ’s assertion of non-cooperation. They’ve sent in all of the information the government requested, WazirX CEO stated.

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Content writer by profession. A crypto lover and has passion for writing. Follows the developments of digital currency right from its launch, years ago.