The post WazirX Founder Explains Exchange’s Restructuring Decision appeared on BitcoinEthereumNews.com.

Nischal Shetty pleaded with the WazirX community to support restructuring plans. Shetty highlighted his concerns over negative publicity. WazirX continues to pursue legal and bounty avenues to recover stolen assets. WazirX founder Nischal Shetty has pleaded with the crypto exchange’s community members to support its recent restructuring plans. In a recent post via his private X account, Shetty explained that his firm’s primary focus is serving its platform users, encouraging WazirX community members to work alongside those who create objective, solution-oriented content. There are those who influence, those who are influenced, and then there are our valued platform users. Our primary focus is on serving our platform users. While some may prioritize “views” and “likes,” we encourage you to work alongside those who create objective,… — Nischal (Shardeum) 🔼 (@NischalShetty) August 25, 2024 Shetty’s post highlighted his concerns over negative publicity that could emanate from the crypto exchange’s recent restructuring decision. He noted that many players in the media space, both social and mainstream, may exhibit acts motivated by ulterior motives. Hence, he advised WazirX users to avoid such people and concentrate on finding solutions to the existing problem. Meanwhile, the renowned entrepreneur assured followers of his team’s commitment to resolving issues while banking on their support. Shetty reassured WazirX users that the exchange’s restructuring decision was not bankruptcy or liquidation, considering it would take several years. According to the founder, the community rejected that approach, and the team found a more optimal solution.  WazirX announced on Saturday that it was embarking on a restructuring program following a recent hack that saw the exchange lose about $230 million of users’ funds to the hackers. According to the exchange, its primary goal is to assist our users in recovering as much as possible while simultaneously exploring ways to enhance value. In…

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Filed under: News - @ August 25, 2024 10:24 am