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WazirX CEO Asks CZ To Reveal Binance Parent Entity

The war of words between Binance CEO Changpeng Zhao and WazirX CEO Nischal Shetty reached new heights on Saturday. The heads of both cryptocurrency exchanges go back and forth blaming each other for being in complete control.

Binance Has Not Disclosed Parent Entity WazirX Claims

In the new attack, the CEO of WazirX reported that the deal between the two exchanges involved the parent company of Binance. He mentioned that after reading media reports about the structure of the world’s largest cryptocurrency exchange, they asked about it.

However, WazirX received some mixed responses about the parent entity. Nishcal claimed that Binance said that it is restructuring. He mentioned that many months have passed and his team is still waiting for the parent entity of Binance.

Nischal Shetty wrote and asked Can Binance to name the controlling entity for him. However, he added that the original deal included the sale of WazirX Technology (IP). Later, the same technology was licensed to Zanmai by Binance for the INR market.

He highlighted that after the license, Binance is operating cryptocurrency trading with cryptocurrency deposits and withdrawals. Meanwhile, Zanmai is operating INR-Crypto trading with INR deposits and withdrawals.

Nischal refutes accusations of lack of cooperation

Earlier, CZ in a tweet mentioned that Binance requested to transfer the source code, implementation and system operations of the Indian cryptocurrency exchange in February 2022. He mentioned that WazirX rejected this and that Binance has no control over the systems.

Binance Chief even claimed that WazirX did not cooperate with them and the same thing is happening in ED situations as well.

However, the CEO of WazirX clarified that in February, the Binance team was looking to take control of Zanmai. If CZ still wants to gain control of Zanmai, he can easily acquire shares. He refuted CZ’s claim of non-cooperation and stated that they have been working with ED for the past 7 days. They sent all the necessary data requested by the agency.

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