Crypto firm Binance denies ownership of India’s WazirX after ED raids

New Delhi: India-based crypto platform WazirX has courted massive controversy, first after Enforcement Directorate (ED) raids on its parent company Zanmai Lab and then the world’s largest crypto exchange Finance completely disowning the Nischal Shetty-run platform.
Changpeng Zhao, founder and CEO of Binance, said in a tweet thread late on Friday that the company “does not own any equity in Zanmai Labs, the entity operating WazirX and established by the founders”.
“On 21 Nov 2019, Binance published a blog post that it had ‘acquired’ WazirX. This transaction was never completed. Binance has never – at any point – owned any shares of Zanmai Labs, the entity operating WazirX,” Zhao contended.