Since the bear market of 2022, the largest cryptocurrency exchange in the world, Binance, and India’s top crypto exchange, WazirX, have been engaged in a tug of war with one another. The dispute continued all the way into the new year, and just recently, Binance gave Wazirx a deadline by which it needed to withdraw its statement or risk losing access to Binance wallets and services.

The disagreement between Binance and Zanmai Labs–which is the parent company of WazirX and domiciled in Singapore–is about who has actual control over the Indian exchange. The conflict among the two executive employees became known to the general public in August 2022, when Binance CEO Changpeng “CZ” Zhao tweeted for the first time that Binance did not have control over WazirX. This prompted WazirX co-founder Nischal Shetty to respond with his own tweets later.

On February 7, WazirX stated in a blog post that its customers do not need to be concerned by Binance’s statement because the process of transferring funds is believed to be complete. It went on to say that the exchange has taken preparations to guarantee that WazirX’s digital assets are stored in compliance with the standards that are considered to be the most stringent in the industry. As a consequence of this, users are free to continue making trades, deposits, and withdrawals of monies as normal.