Binance CEO Denies Claim that the Exchange Owns WazirX

Binance CEO Changpeng Zhao denied that the exchange had acquired Indian crypto exchange WazirX following an AML probe on the latter. The post Binance CEO Denies Claim that the Exchange Owns WazirX appeared first on BeInCrypto.

Timeline of Wazirx

Per a press release from India's Enforcement Directorate (ED), crypto exchange Binance is allegedly involved in a money laundering scheme created with WazirX. This entity operates as a crypto exchange platform in this country; one of its offices was raided on August 3rd, as a result of an ongoing investigation.

Binance CEO CZ has made a surprising Twitter announcement, stating that the WazirX-Binance transaction was never complete.  CZ further added that Binance does not own any equity in Zanmai Labs, the entity that operates WazirX Binance's CEO Changpeng Zhao has made surprising declarations regarding the Indian crypto exchange WazirX.

On August 5, the Enforcement Directorate (ED) froze the bank account of one of the directors of Zanmai Lab Private Ltd, the operator of the Indian cryptocurrency exchange WazirX. The post Trouble Deepens for WazirX in India as ED Raids Director & Freezes Bank Accounts appeared first on BeInCrypto.

India has reportedly frozen the assets of cryptocurrency exchange platform WazirX, a Mumbai-based crypto firm Binance acquired in November 2019. On Friday, the federal Enforcement Directorate (ED), the agency tasked with fighting financial crime in the country, revealed it froze 646.70 million rupees (roughly $8.16 million, £6.75 million) worth of assets belonging to the exchange.

Binance co-founder and CEO Changpeng Zhao said the company never completed an announced acquisition of WazirX after news that Indian authorities had frozen about $8 million in funds belonging to the startup. The post Binance CEO says firm never completed WazirX purchase after funds frozen appeared first on The Block.

Hours after the scrutiny of India's Enforcement Directorate (ED) on WazirX, Binance CEO CZ responded on its relation with WazirX. After raiding the premises of WazirX, the authorities froze the exchange's bank assets over allegations of money laundering.

Shardeum, a blockchain scaling project, is raising funds at a $200 million valuation, sources tell The Block. The post WazirX CEO's project Shardeum is raising funds at a $200 million valuation appeared first on The Block.

On Friday, the Enforcement Directorate (ED) announced that it had frozen bank transfers worth Rs 64.67 crore as part of a money laundering investigation against cryptocurrency exchange WazirX. For a while, the crypto exchange has been under scrutiny.

India's Enforcement Directorate has frozen WazirX's bank balances worth around $8 million. The agency has been investigating WazirX for its alleged role in money laundering. The post Binance-owned exchange WazirX's bank balances frozen by Indian authorities appeared first on The Block.

India's Enforcement Directorate (ED) has ordered the freeze of a WazirX bank account with Rs 64.67 crore (roughly $8.1 million) in connection with a money laundering investigation, IndiaToday reported August 5. The post India freezes 64.67 crore ($8.1M) of WazirX's funds for money laundering probe appeared first on CryptoSlate.