India's leading cryptocurrency exchange, WazirX, has revealed that Binance conducted the initial exchange offering (IEO) for its WRX token and still controls the token supply. The WazirX team clarified that Binance kept all the proceeds from the IEO, which amounted to about $2 million. Binance allegedly holds 580.7 million units of locked and unlocked WRX tokens, worth approximately $74.5 million at the current price of the token. The relationship between Binance and WazirX remains murky, with the two exchanges involved in a long feud over the ownership structure of the Indian exchange.
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