Changpeng Zhao, CEO of Binance, announced that they are not acquiring WazirX, the cryptocurrency exchange in India.
Binance made an announcement in 2019 and announced that it had purchased WazirX.
Authorities in India raided WazirX today and seized $8 million worth of assets.
Binance CEO Changpeng Zhao made a statement after this event and said that they did not buy WazirX:
“Binance shared a blog post on November 21, 2019, announcing that it has acquired WazirX. We have not completed this process. Binance has never bought shares of Zanmai Labs, which operates WazirX.”
According to Zhao’s statements, WazirX is only available from Binance. wallet infrastructure receives necessary services. Zhao stated that user registration, trades, withdrawals and KYC processes are entirely under the management of WazirX.
Zhao said in his statements on his social media account:
“Recent allegations regarding the work of WazirX and how Zanmai Labs is managing this platform are a serious concern for Binance. Binance cooperates with law enforcement agencies around the world. We are pleased to cooperate (with authorities in India).”