In 2022, both Binance CEO CZ and WazirX CEO Nischal were publicly against each other, engaging in heated exchanges on Twitter. Despite their differences, the dynamics of business often lead to situations favorable to all parties involved. Rumors are circulating that Binance may acquire WazirX to compensate customers for losses incurred during a recent exchange hack, potentially benefiting Indian consumers. These rumors also stem from the fact that Binance held around $80 million worth of WRX tokens (WazirX's native token) on July 18th, the day the hack occurred. If this acquisition takes place, it could lead to the recovery of funds for affected users, while strengthening Binance's presence in India by gaining access to millions of Indian customers.
This potential acquisition is seen as a win-win for both parties: users could regain their lost funds, and Binance could expand its market reach. However, customers are currently unhappy with WazirX's proposal to compensate only 55% of the losses, leading to widespread outrage on Twitter.
In 2022, both Binance CEO CZ and WazirX CEO Nischal were neck to neck with each other, fighting over twitter publically, but business deals always work in situations favorable to all parties.
