WazirX move go Panama and dia plan wey no work for restructuring don cause big crash for WRX token and make investors vex
WazirX, wey before before be India's biggest crypto exchange, don comot from Singapore go Panama and change name to Zensui. Dis one happen after Singapore High Court say no to dia plan to re-arrange demsef because dem no clear for how dem dey do tins and some hidden doings wey involve dia papa company, Zettai Pte Ltd. Dis court wahala don follow regulatory pressure from Singapore, and e happen after some bad boys wey dem dey call Lazarus Group hack dem and carry over $235 million, wey make over 4.4 million users, mostly Indians, dey wait for solution. Di plan wey dem try to re-arrange demsef before get promise say dem go pay small small money, give recovery tokens, and start new decentralized exchange, but all dis don hold on indefinitely. Because of dis, investors vex pass, wey make WRX token price fall by 39%, people dey sell off for social media, and di price land for di lowest e don ever be. Di management no dey talk and no clear direction, wey make users fear more. If dem no bring new plan or appeal, WazirX fit close down, and users fit lose plenty money. Dis whole matter don spoil investors trust finish, add big legal and money wahala for WRX holders, and e dey show how crypto exchange market dey risky and how regulation dey hard.
Bearish
Dis news get bad effect for WRX because say dem no fit arrange tings well, dem never pay pipu wey dem hack money, goment tell dem say make dem move go anoda place suddenly, and di management just dey keep quiet for too long. Di 39% drop for WRX token and as pipu dey sell am like say tomorrow no dey show say investors no trust dem again and plenty palava dey for law and money mata, wey make di risk of price drop plenty for short and long run. If dem come sell all dem get with small money for pipu wey put hand, e go still show say WRX go fall more. All dis tin dey spoil dia name and e show say di price go dey shakara well well and pipu no trust dem, wey make WRX no sweet for traders to buy now now.