Binance: Nigeria orders cryptocurrency firm to pay $10bn

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Nigeria wants $10 billion from Binance as “retribution” for losses

Nigeria will ask cryptocurrency exchange Binance to pay $10 billion for alleged losses caused to the government by its operations, according to an aide to President Bola Tinubu.

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The Nigerian government requires nearly 10 billion dollars from Binance, one of the leading cryptocurrency companies in the country. Authorities allege manipulation in exchange rates and price-fixing, actions that have resulted in the devaluation of the Nigerian currency by nearly 70% in recent months. Two Binance executive figures were arrested in Nigeria on... The post Nigeria demands $10 billion from Binance for currency manipulation appeared…

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Just-In: Binance Faces $10B Fine Amid Nigeria's Crypto Crackdown

Nigeria has intensified its regulatory measures against Binance, one of the world’s leading cryptocurrency exchange platforms. The Nigerian government has demanded a staggering $10 billion fine from Binance, alleging its involvement in illicit activities within the country’s crypto space as well as linkages to the currency devaluation. As part of its efforts to maintain stability in its local currency amidst increasing crypto transactions, Niger…