Overseeing operations at WazirX, Shardeum: Nischal Shetty

Amidst rumours that Nischal Shetty, CEO of Indian crypto exchange, WazirX will transition out of the crypto firm to focus on his projects, Shetty told Business Today that there is no truth to these reports and he is very much overseeing the operations at WazirX while also working on Shardeum, his newly announced L3 blockchain project.

Shetty categorically refuted the reports that he is handing over the charges at WazirX anytime soon.

“I am overseeing the operations at WazirX and handling Shardeum project,” Shetty said.
 
On Wednesday night, Shetty had tweeted, “Getting queries if I’m transitioning out of WazirX. If I intend to, YOU will hear it from me first, and not from “sources" It’s not zero or one, but zero and one, ” Shetty tweeted.
 
The WazirX CEO has also been vocal in lending his support to the crypto investors community who are urging the government to reduce the crypto tax rate from 30 per cent and do away with 1 per cent TDS .
 
WazirX earlier told Business Today that it has seen a substantial jump in terms of user signups on the Budget 2022 day and that the trading columes have significantly risen over last couple of years. Shetty had said that India has currently more than 2 million active crypto investors.
 
Earlier this month, Shetty announced the launch of his new blockchain project, Shardeum to "solve for scalability, decentralisation, and affordability of cryptocurrencies especially for emerging markets like India." For this project, Shetty has partnered with with Omar Syed, a blockchain technologist, who has built scalable blockchain technologies in the US while working with other organisations.