TechFlow reports, according to official sources, that Indian cryptocurrency exchange WazirX tweeted stating Binance had previously conducted an IEO for WRX, and all proceeds from the WRX IEO sale—108,401 BNB tokens worth $2 million—have been retained by Binance.
Currently, Binance holds a total of 580.78 million $WRX tokens, while the WazirX team has not received any token allocation. The responsibility for quarterly WRX token burns lies with Binance.
The most recent quarterly WRX token burn was carried out by Binance on March 9, 2022. Since January 2022, Binance has failed to conduct the burn for five consecutive quarters.
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