Police tactics are chilling India’s crypto winter

If success has many fathers, then a crypto exchange in the eye of a money-laundering storm has become an orphan.

After Indian law enforcement froze $8 million in WazirX assets, Binance Chief Executive Officer Changpeng Zhao denied owning the country’s largest crypto exchange. Binance’s November 2019 blog post, which had announced the takeover, now comes with a postscript: “The ‘acquisition’ described in this blog was limited to an agreement to purchase certain assets and intellectual property of WazirX. Binance did not purchase any equity (and does not own any equity) in Zanmai Labs, the entity operating WazirX and established by the original founders.”