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”.


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.