WazirX (WRX) fell sharply over the past day, losing 14.96% to $0.07386. Its market cap is $28.2 million, while the unlocked market cap is $72.66 million. Trading activity also dropped, with 24-hour volume down 51.38% to $124,910. The drop comes as the results of the Amended Scheme of Arrangement revote are about to be verified.
On August 7, WazirX posted about the voting process on X. The company thanked everyone who participated and explained the next steps.
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.
The Crypto Times reached out to Joshua Taylor and Henry regarding their roles in reviewing votes for the repayment and restructuring scheme. However, there has been no response from either of them so far.
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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