- The Indian Exchange issued a new statement
- She claims that Binance has full control over the circulation of WRX and is responsible for burning
- Previously, a serious struggle broke out between the companies.
- Binance insists it has no ties to WazirX
Yesterday, May 16, the Indian exchange WazirX made an important announcement. The company publicly announced that it was Binance that conducted the WRX Initial Exchange Offering (IEO) and fully controls the accounts where the tokens are stored.
What happened to WazirX?
In August last year, the company was accused of violating AML rules. At the same time, the news appeared that the exchange allegedly belongs to Binance and is a “gasket” for entering the local market.
CEO Changpeng Zhao personally denied this. He stated that Binance has nothing to do with WazirX, which the head of the exchange immediately commented on, calling CZ’s words an outright lie.
In February, it was reported that Binance would no longer provide the WazirX wallet. The exchange demanded to refute the “false public statements”, but was refused, after which it broke off cooperation.
A new batch of accusations
In a public release dated May 16, WazirX stated that it was Binance that hosted the WRX IEO. She owns all the profits from the sale of tokens, which is a little more than $2 million. And supposedly the exchange owns “coins” worth more than $580 million.
At the same time, Binance is responsible for the quarterly burning of WRX tokens. Note that the last “burn” was in early March 2022. The liquidation of some of the “coins” is necessary to maintain the exchange rate and is perhaps the main factor in counteracting inflation in a particular crypto asset market.
Binance has not yet commented on this statement.