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CZ Distances Binance From India’s WazirX Exchange

Daily Market Wrap

  • Crypto market cap: 1.12 trillion, up 1.82%

  • BTC price stands at USD 23,763, up 2.16%

  • ETH price stands at USD 1,768, up 3.75%

  • Top gainer: Celsius (CEL), up 30.29%

  • Top loser: Lido DAO (LDO), down 4.45%

News of the Day

Why it matters:

  • The issue appears to have begun on August 5, when India’s Directorate of Enforcement (ED) announced that it had frozen INR 646,700,000 (US$8.15 million) in bank deposits belonging to Zanmai Lab Pvt Ltd, the operating company behind WazirX, under the Prevention of Money Laundering Act

  • WazirX’s co-founder, Nischal Shetty, tweeted on August 6 that “WazirX was acquired by Binance”

  • Less than two hours later, Changpeng Zhao, founder and CEO of Binance, said in a series of tweets that Binance does not own any equity in WazirX

Crypto Daily Spotlight

Brief introduction: Chainlink (LINK) is a cryptocurrency and technology platform that enables non-blockchain enterprises to securely connect with blockchain platforms. It is also known as a decentralised oracle network or blockchain abstraction layer.

Why it matters:

  • The Chainlink network expressed in a post that the Chainlink protocol will remain operational during and after the Ethereum Merge

  • Further elaborating on any potential hard fork, the network said, “Users should be aware that forked versions of the Ethereum blockchain, including PoW forks, will not be supported by the Chainlink protocol”

  • While EthereumPoW has been making rounds online, Chainlink seems to have steered away from supporting it. The network urged developers and dApp teams to put a hold on smart contract operations if they were skeptical about the migration to the Merge

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