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“CoinSwitch has always been conscious of its expenses,” said Ashish Singhal, the company’s co-founder and CEO. “Today, we are proudly serving more than 19 million registered users, and are excited to grow and evolve with them by providing them with a diverse range of investment options, including fixed deposits (FD),
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Indian crypto exchange Wazirx has denied the allegations made by Binance regarding the relationship between the two crypto exchanges. Emphasizing that the allegations “are false and unsubstantiated,” Wazirx stressed. “As far as Binance’s actions are concerned, we are taking the necessary steps to seek recourse and protect our legal rights.” Wazirx
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The spat between Binance and Zanmai Labs, the Singapore-based parent of WazirX, is about who truly controls the Indian exchange. The internal dispute became public in August 2022 when Binance CEO Changpeng "CZ" Zhao first tweeted that Binance didn't control WazirX, resulting in WazirX co-founder Nischal Shetty hitting back later. Source
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Binance has announced that Indian crypto exchange Wazirx can no longer use Binance wallet services. Zanmai, the operator of Wazirx, has until Feb. 3 “to remove the funds from the accounts that they used for Wazirx’s operations.” The move followed a public dispute regarding the relationship between Binance and Wazirx. Binance
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The debacle between the global cryptocurrency exchange Binance and Zanmai, the operator behind the Indian cryptocurrency exchange WazirX, continues in a new blog post from Binance banning the latter from utilizing its services.On Feb. 3, Binance released a post that acknowledged the ongoing “public debate” with Zanmai over its claims
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"As an exception, we have invited Zanmai to work out arrangements with us to withdraw any remaining assets in the relevant accounts after 3 February. However, the responsibility ultimately lies with the Zanmai team to make the withdrawals expeditiously," Binance said. Source
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To prove his point, Schetty attached a partially redacted email chain that began on July 19, 2021, between Brian Schroder, the CEO of Binance US, and Tushar Patel, the vice president of finance at WazirX, about an amended “share purchase agreement.” Source
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After the paranoia and turmoil in the crypto industry caused by the FTX liquidity and bankruptcy scandal, major digital-asset service providers began publicizing their reserve funds. The latest to join the proof of reserve trend is the Indian cryptocurrency exchange WazirX. It announced its act of transparency on Jan. 11, stating
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India’s Directorate of Enforcement (ED) says it has frozen more cryptocurrencies, including bitcoin, tether, and the Wazirx token. The action is part of its investigation of the mobile gaming app E-nuggets. In its latest announcement, the ED revealed that nearly 86 bitcoins found at crypto exchange Binance were frozen. Indian Authority
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One of the sources said "the workforce has been cut from several departments including customer support, HR, and other departments. Managers, Analysts, Associate Managers/Team leaders were among those laid off." The entire public policy and communication team was fired, according to another employee who lost his job. Original Source
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