WazirX founder Nischal Shetty says Binance has “control” over the Indian crypto exchange

WazirX founder Nischal Shetty said Binance — the world’s largest crypto exchange by volume— owns a stake in his company, hours after the Binance chief executive Changpeng Zhao said that his company did not hold
any shares in the Indian exchange.

In a series of tweets, Shetty wrote, “WazirX was acquired by Binance. Zanmai Labs is an India entity owned by me & my co-founders. Zanmai Labs has license from Binance to operate INR-Crypto pairs..WazirX Binance operates crypto to crypto pairs, processes crypto withdrawal…”.

In another separate tweet, Shetty responded to Zhao’s claims that Binance can shut down WazirX by saying, “ We could shut down WazirX ” – Proves you have control. “Shared access of AWS” – You have

ROOT access of AWS! Anyone with root access controls AWS

“WazirX domain transferred to our control” – Good to see you confirm that

Only control now is Zanmai, why are you not taking it”.

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Shetty also said that WazirX is still owned by Binance.

In 2019, Binance said
that it had acquired WazirX — India’s biggest crypto exchange. However, amidst the ongoing “crypto winter” and a
recent freeze of WazirX’s accounts by the ED owing to alleged money laundering, Binance has claimed that it only served as a wallet service provider to WazirX.

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