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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
India’s biggest crypto exchange just got disowned by its founders as well as the company that acquired it three years ago. What happened?
Editor's note: In a thread of four tweets, Changpeng Zhao dropped a bombshell on Friday evening. The founder and CEO of Binance, the world’s largest cryptocurrency exchange, said that his firm never acquired Indian crypto exchange WazirX—a transaction that was announced by Binance itself in 2019 and hailed as a matter of great celebration in India. Zhao now says that the transaction was never completed and that “Binance has never—at any point—owned any shares of Zanmai Labs, the entity operating WazirX”. He added that the relationship between Binance and WazirX is limited to Binance being a technology provider. The Binance CEO’s claims snowballed into a war of words on Twitter between him and WazirX co-founder Nischal Shetty, who insists that WazirX was in fact acquired by Binance. And that Zanmai Labs is a separate entity—owned by him and his two co-founders—which only manages WazirX as a licensee of Binance in India. Shetty also claimed a few other things: Binance owns the WazirX web domainBinance has root access to WazirX’s AWS servers (Zhao has countered this and said that Binance has shared access) Binance …
India’s biggest crypto exchange just got disowned by its founders as well as the company that acquired it three years ago. What happened?
Editor's note: In a thread of four tweets, Changpeng Zhao dropped a bombshell on Friday evening. The founder and CEO of Binance, the world’s largest cryptocurrency exchange, said that his firm never acquired Indian crypto exchange WazirX—a transaction that was announced by Binance itself in 2019 and hailed as a matter of great celebration in India. Zhao now says that the transaction was never completed and that “Binance has never—at any point—owned any shares of Zanmai Labs, the entity operating WazirX”. He added that the relationship between Binance and WazirX is limited to Binance being a technology provider. The Binance CEO’s claims snowballed into a war of words on Twitter between him and WazirX co-founder Nischal Shetty, who insists that WazirX was in fact acquired by Binance. And that Zanmai Labs is a separate entity—owned by him and his two co-founders—which only manages WazirX as a licensee of Binance in India. Shetty also claimed a few other things: Binance owns the WazirX web domainBinance has root access to WazirX’s AWS servers (Zhao has countered this and said that Binance has shared access) Binance …
The popular super app startup is seeing widening losses, Dubai’s financial zone wants more wealth and Aramco’s big quarter.
India’s leading tech hardware distribution company is making the most of the unprecedented rise in global prices of laptops and other tech hardware. There’s just one problem.
Even though the government of India did a U-turn on the mandatory pre-installation of the anti-fraud app on all mobile phones sold or imported in the country, the larger problem of petty cybercrime remains grim.
The popular super app startup is seeing widening losses, Dubai’s financial zone wants more wealth and Aramco’s big quarter.
India’s leading tech hardware distribution company is making the most of the unprecedented rise in global prices of laptops and other tech hardware. There’s just one problem.
Even though the government of India did a U-turn on the mandatory pre-installation of the anti-fraud app on all mobile phones sold or imported in the country, the larger problem of petty cybercrime remains grim.
