Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Nigeria Refutes Binance’s Bribery Allegations, Calls Them ‘Diversionary Tactics’

Share This Post

Nigeria has rejected bribery allegations made by Binance, the world’s largest cryptocurrency exchange, labeling them as a “tactic to divert” attention from the exchange’s activities. 

The statement comes in response to a blog post by Binance’s newly appointed CEO, Richard Teng, who claimed that the Nigerian government demanded a $150 million cryptocurrency payment to settle an ongoing criminal investigation.

Nigerian Government Slams Binance’s Bribery Claims

According to Bloomberg, Nigerian Ministry of Information spokesman Rabiu Ibrahim dismissed Teng’s bribery allegations as baseless and lacking substance. 

Ibrahim stated that the Binance CEO’s claim was a mere diversionary tactic aimed at shifting focus away from the cryptocurrency exchange’s activities. The Nigerian government firmly denies involvement in any bribery attempts.

According to Teng’s blog post, Binance attended a meeting with Nigerian officials in January, during which criminal allegations were raised against the company. 

Teng claimed that as Binance staff left the meeting, they were approached by unknown individuals who demanded a significant cryptocurrency payment within 48 hours to settle the allegations. 

The blog post also mentioned that Gambaryan and his colleague returned to Nigeria in February at the authorities’ invitation but were subsequently arrested.

While one employee has managed to escape in recent months, Tigran Gambaryan remains in custody. He faces charges of tax evasion, currency speculation, and money laundering. His trial is scheduled to commence later this month.

Nigeria Intensifies Scrutiny Of Cryptocurrencies

The Nigerian government dismisses Binance’s bribery claims as part of the company’s “orchestrated international campaign” to undermine Nigeria’s reputation. 

The government also accuses Binance of resorting to fictional claims and mudslinging media campaigns to clear its name amidst criminal prosecutions in multiple countries, including the United States.

It is worth noting that Nigeria has been scrutinizing the role of cryptocurrencies in the depreciation of the local currency, the naira. The government attributes part of the currency’s decline to foreign exchange control adjustments and increased volatility. 

To address concerns, the Securities and Exchange Commission banned person-to-person cryptocurrency trading in the naira and indicated that new regulations would be implemented to govern the sector.

In addition to the issues in Nigeria, Binance founder Changpeng Zhao was recently sentenced to four months in prison in the US for failures that allowed cybercriminals and terrorist groups to trade freely on the platform. The exchange also agreed to pay $4.3 billion to resolve allegations raised by US authorities.

Binance has not yet responded to the Nigerian government’s accusations and denials. It remains to be seen how the exchange will address the situation or provide any further clarification regarding the allegations.

Binance

As of this writing, the exchange’s native token, BNB, is trading at $585, up 4.4% in the past week. 

Featured image from Shutterstock, chart from TradingView.com

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

XRP Supporters Call for $1000 Price Target, But Is It Just Empty Hype?

The post XRP Supporters Call for $1000 Price Target, But Is It Just Empty Hype appeared first on Coinpedia Fintech News As the crypto market moves higher, XRP is gaining fresh attention — and its

Coinbase CEO: Crypto Is About to Be in Everyone’s 401(k)

Crypto is storming into traditional finance as Coinbase’s CEO predicts 401(k) adoption, institutional momentum surges, and digital assets reshape retirement investing and market benchmarks

XRP Price Prediction: Bearish Phase is Over, Next Target $3

The post XRP Price Prediction: Bearish Phase is Over, Next Target $3 appeared first on Coinpedia Fintech News XRP price has increased by more than 3% in tha last 24 hours and is now trying to climb

Tron strengthens grip on USDT, claiming nearly half of its $150B supply

Tether’s market cap just passed $15066 billion, setting yet another record and extending its dominance over every rival combined Data from DeFiLlama showed USDT expanded by roughly

XRP Price At $10-$20 Only The Beginning, It’s Headed For $1,000 – Analyst Reveals

Crypto analyst BarriC has asserted that an XRP price rally to between $10 and $20 would only be the start for the altcoin The analyst still expects XRP to rally to four digits and has in the past

Cardano Founder Teases ‘Several Dozen Deals’ This Summer And Fall

Cardano’s development company Input Output (IO) and privacy-centric browser maker Brave Software have announced that full Cardano support is coming to the native Brave Wallet, marking one of the