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CZ: Binance does not hold WazirX shares and only provides services such as wallet support



Time:8/6/2022 12:05:35 PM

[CZ: Binance does not hold shares in WazirX and only provides services such as wallet support] On August 6th, Binance CEO CZ posted on social media that Zanmai Labs is an entity that operates WazirX and was established by the original founders. Own any equity in Zanmai Labs. On November 21, 2019, Binance posted that it had "acquired" WazirX, but the deal was never completed. Binance never owned any shares of Zanmai Labs at any time. Binance provides wallet services for WazirX only as a technical solution, as well as integration services for off-chain transactions to save network fees. WazirX itself takes care of other aspects including user registration, KYC, trading and initiating withdrawals.

Other news:

CZ: Binance has suspended FTT deposits: According to news on November 13, Binance CEO CZ issued a document stating that Binance has suspended FTT deposits to prevent problematic additional supply that may affect the market. Binance will monitor developments in real time. CZ recommends that other exchanges do the same, just to be on the safe side, to avoid a similar situation with GALA. CZ added that currently FTT contract deployers are transferring all remaining FTT supply worth $400 million, which should have been unlocked in batches. [2022/11/13 12:58:35]

CZ: The fall of FTX will bring about a chain reaction: November 11 news, Binance founder CZ said that with the fall of FTX, we will see a chain reaction, especially those institutions or individuals close to FTX, in the next few weeks Might see more crypto companies fail. [2022/11/11 12:52:17]

CZ: Binance will fully comply with New Zealand laws and regulations and the supervision of regulatory agencies: On October 3, CZ said in an interview that Binance has recently registered as a financial service provider (Financial Service Providers) in New Zealand and launched Binance New Zealand. Will fully comply with New Zealand's local regulations, laws and supervision of regulatory agencies. However, a New Zealand government source said that being registered as a financial services provider is not accreditation/licence, it is just an administrative requirement and does not mean companies have to meet standards. The New Zealand Financial Markets Authority issued a statement saying it was aware of the incident and believed that cryptocurrency investors should use trading platforms based in New Zealand.

In addition, CZ also said that if the Internet is a new technology for transmitting information, then blockchain, Web3, and cryptocurrency are new technologies for transmitting value. New technologies will grow the current economy by a factor of 10 or 100. [2022/10/3 18:38:12]

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