Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Binance Dodges Question on WazirX Acquisition As Users Await Funds

Binance Dodges Question on WazirX Acquisition As Users Await Funds

CryptotimesCryptotimes2024/11/18 18:44
By:Dishita Malvania

Raza posed the crucial question: would Binance step in to help by acquiring WazirX?

At a recent Binance meetup in Delhi, a question from a crypto influencer about the exchange potentially acquiring WazirX to help its users in light of the recent hack was met with a careful, non-committal response from Binance’s Regional Head. The exchange has faced growing pressure in India following the hack of WazirX, once linked to Binance, sparking fears and doubts among its users.

Crypto influencer Kashif Raza addressed the gathering, stating that Binance’s reputation for trust and goodwill had earned it a strong following globally, including in India. He pointed out that the WazirX hack had been a setback for the entire ecosystem, with Binance’s name initially used to boost the exchange’s legitimacy, even though Binance had later distanced itself from it. 

As users continued to search for answers, Raza posed the crucial question: would Binance step in to help by acquiring WazirX or offering another solution to ease the situation?

Vishal Sacheendran, Binance’s Head of Regional Markets, acknowledged the challenges following the WazirX incident but declined to comment on whether Binance would take any action regarding a potential acquisition. 

Instead, he emphasized the broader industry’s collective efforts when hacks occur, stating that security concerns transcend competition and that all crypto companies work together to protect the ecosystem.

Sacheendran reassured the audience that Binance was deeply involved in addressing the aftermath of the WazirX hack, though he refrained from providing any specifics. His comments were a reminder to continue trusting Binance as the company strives to build a secure, innovative platform for users. 

Despite the uncertainty, confidence in Binance remains palpable, especially in India, where the excitement following Binance CEO Changpeng Zhao’s (CZ) return to the region is evident.

Follow The Crypto Times on Google News to Stay Updated!
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

AVAX breaks through $39

Cointime2024/11/22 16:55

Cardano (ADA) Is Experiencing an Unprecedented Rise! What is the Reason for the Rise, Will It Continue?

Cardano continues to attract attention with its rise.

Bitcoinsistemi2024/11/22 16:44

Ethereum Futures Open Position Breaks Record, According to CryptoQuant Report! Here Are the Details

Ethereum futures open interest has reached an all-time high of over $20 billion.

Bitcoinsistemi2024/11/22 16:44

Famous CEO Solana Says Rally is Just Beginning, Announces Huge Bullish Prediction for SOL Price!

XBTO CEO Philippe Bekhazi claimed that Solana could reach $700, driven by ETF expectations and a Trump-driven rally.

Bitcoinsistemi2024/11/22 16:44