Someone Wants Binance to Go Down?
Certainly one of the biggest news from the week - well, maybe asides the Solana hack.
Over the last few days, Binance CEO, Changpeng Zhao (famously known as CZ) has spent a lot of time on Twitter trying to clarify Binance’s relationship with WazirX after the Enforcement Directorate(ED) on Friday froze bank deposits of Rs 64.67 crore as part of a money laundering probe against crypto exchange, WazirX.
The federal agency alleged that a director of Zanmai Lab Pvt Ltd, which owns WazirX, has been "non-cooperative" with the probe efforts.
CZ claims WazirX is not owned by Binance, saying that the transaction was never completed.
However, WazirX Founder, Nischal Shetty tries to contradict CZ’s claims in a counter tweet
CZ has gone further to state that Binance does not have control over operations such as user sign-up, KYC, trading, and withdrawals - all of which are managed by WazirX.
Binance is the biggest crypto exchange by trading volume and, perhaps, regulatory compliance. For glaring reasons, there are rumours a few industry big shots might want Binance to go down.
However, none of these rumours are so far backed by indisputable evidence.
We’ll keep our eyes glued for future developments.