Binance executives were arrested for allegedly destabilizing Nigeria's currency

https://qz.com/binance-executives-arrested-nigeria-crypto-1851329931

by isaacfrond • 2 years ago

6 2 2 years ago

isaacfrond• 2 years ago

tl;dr

As per reports, Nigerian government officials invited Binance executives to discuss an ongoing dispute about the world’s largest crypto exchange allegedly driving down the value of their national currency.

Gambaryan and Anjarwalla arrived in Nigeria on February 25th; after their meeting with government officials, both were taken to their hotels. Later, they were instructed to pack their belongings and move to a guesthouse run by Nigeria’s National Security Agency, as stated by their families, per reports.

apienx• 2 years ago

Despite relatively excellent growth numbers, few Nigerians (or foreign investors) are confident in the future of the local currency. Moreover, a full two thirds of Nigerian residents don't trust the judicial system. The "destabilizing" is mostly achieved by a general lack of integrity, widespread corruption and normalized incompetence.

In other recent news, the leader of the Riksbank, the world's oldest central bank located in Sweden, has stated that Sweden benefits from having fewer decentralized financial instruments. https://www.reuters.com/markets/europe/bitcoin-not-welcome-s...

Binance executives were arrested for allegedly destabilizing Nigeria's currency

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