WazirX (WRX) Plummets 15% in 24 Hours as Revote Tension Mounts

Crypto markets never sleep—and today, WazirX (WRX) holders got a rude awakening. The token nosedived 15% in a single day as traders braced for high-stakes revote results.

Blood in the water? WRX’s sudden drop reeks of pre-news panic. Smart money’s either front-running the outcome or bailing before the fireworks. Classic crypto volatility—where ‘investing’ and ‘gambling’ blur like a drunk trader’s vision after 3 AM.

Will the revote spark a rebound or trigger more carnage? Either way, grab popcorn—this is decentralized theater at its finest. Just remember: in crypto, ‘governance’ often means ‘hold my beer while I dump my bags.’

On August 7, WazirX posted about the voting process on X. The company thanked everyone who participated and explained the next steps.

With revoting for the Amended Scheme of Arrangement now complete, we thank everyone who participated and cast their vote.

The next step is independent verification of all submitted votes by Joshua Taylor and Henry Anthony Chambers of Alvarez & Marsal Pte Ltd. As Independent… pic.twitter.com/Ncq72kV5ep

All votes will now be reviewed by Joshua Taylor and Henry Anthony Chambers of Alvarez & Marsal Pte Ltd. They are the Independent Assessors, and their job is to check every vote and make sure it was counted correctly. After that, they will submit a report to Zettai Pte Ltd and the Scheme Manager.

After receiving the report, Zettai will issue a notice to all Scheme Creditors. This notice will share the verified revote results and provide instructions on how each creditor can view a list showing the individual votes as confirmed by the Independent Assessors. According to WazirX’s timeline, the notice is expected to be sent on August 18. 

Investors are also watching closely. Analysts say the uncertainty about the revote likely caused the recent drop in WRX’s price. The verified results will probably influence market sentiment and could affect how WRX trades in the coming days.

The next few days will be important. Once the notice is issued, creditors will see the full results, and the market may respond accordingly. For now, the focus remains on the verification process and what the outcome of the revote will mean for WazirX and its investors.

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