What Binance’s Exit From Nigeria Means for P2P Bitcoin
The exchange was forced to leave Nigeria, and I’m sure it will happen to other crypto companies in other countries, Ray Youssef, CEO of NoOnes, writes.
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The exchange was forced to leave Nigeria, and I’m sure it will happen to other crypto companies in other countries, Ray Youssef, CEO of NoOnes, writes.
Binance is having a weird moment, perhaps most clearly illustrated by the fact that a national government detained two of its executives for a month now – and one is only free because he seemingly escaped custody.
Two mid-levels executives were detained without charge for more than a month, one escaped. Here’s what we know so far about Nigeria’s legal battle with Binance.
One of two senior Binance executives in government custody has escaped, local media reported over the weekend.
Binance’s fairly new boss Richard Teng has said Bitcoin (BTC) will exceed his previous expectations of hitting the $80,000 mark by the end of this year, according to Bloomberg.
The regulator proposed increases to all supervision fees as the country cracks down on the crypto industry.
Binance Labs now has a disclaimer on its website describing it as “an independent venture and not part of the Binance Group.”
The two men were arrested on Feb. 26 after arriving in Abuja to meet with Nigerian leaders who accused the crypto exchange of crashing the country’s currency, the naira.
Two senior executives of Binance, Tigran Gambaryan and Nadeem Anjarwalla, have been held against their will for the past two weeks by Nigerian authorities.
The cryptocurrency market works in cycles, usually dominated by one or two leading narratives to gain protagonism. As a new … Continue reading
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