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Tag: Binance

Canada fines Binance $4.38m for money laundering
Crypto

FG slams $10bn fine on Binance over forex crisis

The Nigerian Federal Government has imposed a $10 billion fine on the cryptocurrency trading platform Binance, alleging its involvement in influencing the country’s forex crisis. The Special Adviser to President Bola Tinubu on information and strategy, Bayo Onanuga, revealed the fine in an interview with the BBC on Friday. Onanuga stated that Binance engaged in […]

FG to reveal outcome of Binance probe soon - NSA
News

FG to reveal outcome of Binance probe soon – NSA

Melvin Onwubuke The Office of the National Security Adviser has announced that the Federal Government is investigating the activities of Binance, a cryptocurrency exchange platform. Two executives of Binance, were reportedly arrested by agents of the Nigerian Government. The National Communication Commission, in efforts to curb the constant manipulation of the forex market and illegal […]

Binance working with Nigeria govt to resolve exec's detention, CEO says
Crypto

FG arrest two Binance executives

By Alex Omenye   The Federal Government has arrested two Binance executives in Nigeria this week, The Financial Times reported. Last week, both executives had flown to Nigeria in response to a website ban and were subsequently arrested by the office of the National Security Adviser, as outlined in the same report. In a tumultuous […]

Binance working with Nigeria govt to resolve exec's detention, CEO says
Crypto

Binance, Coinbase suffer restriction in Nigeria

Some cryptocurrency exchanges in Nigeria encountered accessibility challenges, leading to speculation about potential restrictions on crypto sites, as reported by the Financial Times. Local media previously suggested that Nigeria’s apex bank instructed the Nigerian Communications Commission, the telecom regulator, to suspend access to crypto websites, including Binance, Coinbase, and Kraken. This development came shortly after […]

Binance working with Nigeria govt to resolve exec's detention, CEO says
Crypto

Binance sets price cap as presidential aide calls for ban

The cryptocurrency stablecoin Tether’s selling price on Binance’s peer-to-peer exchange has been capped, as the company has also stated that it is willing to cooperate with Nigerian authorities. In a blog post published on Wednesday, Binance stated that its P-2-P platform is driven by the market and not by Nigerian currency rates. “Binance serves as […]

Canada fines Binance $4.38m for money laundering
Crypto featured

Binance restricts USDT/NGN trading

The world’s largest cryptocurrency exchange, Binance has implemented restrictions on peer-to-peer transactions involving the USDT/NGN pair as the naira experienced record lows on Tuesday. The exchange, serving as an escrow for Nigerians trading naira for USDT (a stablecoin pegged against the US dollar), stated that this measure is aimed at protecting users from fraud and […]

FG moves to restrict Binance, other crypto platforms
News

FG moves to restrict Binance, other crypto platforms

Nigerian government is contemplating the restriction of access to Binance and similar cryptocurrency platforms over the decline of the Naira. This consideration stems from concerns over alleged manipulation of the foreign exchange market and unauthorized financial flows, which are believed to be contributing to the naira’s significant devaluation, reaching a record low of N1,800 against […]

Binance working with Nigeria govt to resolve exec's detention, CEO says
Crypto

Binance opens crypto trading in Thailand

Alex Omenye Binance said on Tuesday that it has made its bitcoin exchange available for trade in Thailand. According to a release, Gulf Binance is a joint venture between Binance and Gulf Innova of Thailand. It will function as an exchange and brokerage platform that lets customers buy and sell digital assets using local currency […]

OpenAI is facing ongoing capacity challenges following the launch of its viral image generation feature last week, as a result, the company has temporarily disabled
News

Apple removes Binance, crypto apps from India App store

Alex Omenye Apple have removed at least nine cryptocurrency exchanges’ applications, including those from Binance and Kraken from the Indian App Store. This comes less than two weeks after the majority of these international companies were accused of conducting business in the country “illegally.” Nine cryptocurrency companies received show-cause notifications from the Financial Intelligence Unit, […]

Canada fines Binance $4.38m for money laundering
News Tech

India blocks Binance, nine other over ‘illegal’ operations

Nine international cryptocurrency exchanges, including Binance, Kraken, Kucoin, and Mexc, are allegedly operating “illegally” in India without abiding by the local anti-money laundering act has been blocked in India. The Financial Intelligence Unit, an Indian government agency that monitors financial transactions, said on Thursday and requested that the IT Ministry block their websites. All nine […]

Ex-Binance CEO sentenced to four months in jail
Tech

Prosecutors demand Binance CEO remains in US for trial

United States prosecutors urged a federal judge on Wednesday to order Binance Holdings founder and former CEO Changpeng Zhao to stay in the United States prior to his sentence hearing on February 23, 2024, according to a court document. On Wednesday, the U.S. Justice Department pleaded with the judge to order Zhao to remain in […]

Binance halts support for USDC stablecoin on Tron blockchain
News Tech

Investors pull $956m from Binance after Zhao’s resignation

Investors on Binance have about $956 million from crypto exchange in the past 24 hours, data firm Nansen reported on Wednesday. The move comes a day after its chief, Changpeng Zhao, stepped down and pleaded guilty to breaking U.S. money laundering laws. The data only includes flows on the ethereum blockchain, Nansen analysts said. Changpeng […]