Binance and WazirX reportedly in talks to settle their ownership dispute #togrp7

The cryptocurrency exchange WazirX and Changpeng Zhao, the founder of Binance, may soon come to a resolution over their ongoing ownership issue. Apparently, the attorneys from both exchanges are working with one another in an effort to resolve this issue according to sources familiar with the matter, The New Indian Express reported on August 11.

After the Enforcement Directorate (ED) conducted searches on one of the directors of Zanmai Labs, which operates WazirX, Binance announced in November 2019 that it had purchased WazirX. Binance also confirmed that the 2019 acquisition was restricted to a purchase agreement for certain assets and intellectual property of WazirX. Notably, Binance did not make any investments in Zanmai Labs in the form of equity. #togrp7

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