tl;dr
Nigeria's law enforcement allegedly demanded a $150 million bribe from Binance to drop charges, including money laundering and tax evasion. Binance's financial compliance head has been detained for over 70 days. The former Singaporean central banker, now leading Binance, claims Nigerian officials de...
Nigerian officials allegedly demanded a $150 million bribe from Binance to dismiss charges of money laundering and tax evasion. The former Singaporean central banker leading Binance claims that the Nigerian government asked for the bribe in cryptocurrency. Despite the government denying the allegations, some officials are investigating.
Binance calls for the release of their detained employee and expresses willingness to cooperate after his release. The Binance Africa manager, accused of involvement, is reportedly in Kenya.
Nigeria’s law enforcement agencies allegedly demanded a $150 million bribe from Binance to dismiss charges against the exchange, as per a new report. Binance's financial compliance head has been detained for over 70 days. Richard Teng, the former Singaporean central banker leading Binance, finally broke his silence on the legal woes in Nigeria. Teng alleges that Nigerian officials demanded a bribe in 'crypto.'
According to Teng, Binance has been trying to work with Nigerian regulators since May 2022, attempting to understand the license application process. The Nigerian parliament summoned the exchange for an investigative hearing in December 2023.
The Nigerian government has dismissed the allegations, claiming Binance is trying to launder its reputation. However, some senior state officials believe that bribery could have played a part in the Binance Africa manager's escape from detention.
Teng reiterated Binance’s call for the release of their detained employee. Meanwhile, the Binance Africa manager, accused of involvement, is believed to be in Kenya.
Watch: Teranode is the future of the Bitcoin network YouTube video YouTube video width="560" height="315" frameborder="0" allowfullscreen="allowfullscreen"> New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
More about Emeren Group Ltd
Emeren Group Ltd, ReneSola Ltd, develops, builds, operates and sells solar energy projects. The company is headquartered in Stamford, Connecticut.
Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES
Market Cap: 114.563B
Dividend Yield: None
EPS: -0.16
PE Ratio: 1.852
52-Week High: -0.0891
52-Week Low: 104.671B
50-Day Moving Average: 5.5
200-Day Moving Average: 3.42
Price to Sales Ratio: 1.128
More about Coinbase Global Inc
Company: Coinbase Global Inc
Description: Coinbase Global, Inc. provides financial infrastructure and technology for the crypto economy. The company is headquartered in Wilmington, Delaware.
Sector: Finance
Industry: Finance Services
Market Cap: 48.909 billion
P/E Ratio: 38.9
Dividend Yield: None
EPS: 5.12
ROE: 15.83%
Volatility: 0.357
Revenue: 3.777835 billion
Price: 258.75
Change: 3.27
Change %: 1.156