“The applicant’s application dated and filed February 29, 2024, is hereby granted as prayed. That an order of this honorable court is hereby made directing the operators of Binance to provide the commission with comprehensive data/information relating to all persons from Nigeria trading on its platform,” the judge ordered, the report said. Source
Reddit appears set to reach a $6.5 billion valuation with its initial public offering (IPO), according to Reuters. The San Francisco-based social media company’s IPO is currently between four and five times oversubscribed, the report continued, citing unnamed sources. This figure marks a decrease from the $10 billion valuation achieved in its last fundraising round in August 2021. The planned IPO price range is set between $31 and $34 per share. Reddit — which holds Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC) according to its IPO filing — plans to…
The world’s largest crypto exchange by volume is reportedly severing ties with its multi-billion-dollar investment branch. According to a new report by Bloomberg, since taking the helm from disgraced Binance co-founder Changpeng Zhao, Binance CEO Richard Teng has pushed Binance Labs – the crypto exchange’s investment arm – into a separate company. Disclaimer text found on Binance Lab’s official website states that the $10 billion investment firm is not a part of Binance. “Binance Labs is an independent venture and not part of the Binance Group nor is it involved…
Earnings already subject to the 15% capital gains tax don’t need to be included when calculating income taxes. Source
In an unprecedented surge, global crypto investment products experienced a historic influx of $2.7 billion last week, signaling strong confidence among investors and propelling assets under management (AUM) back to December 2021 levels. Record $2.7 Billion Flows Into Crypto Investments in a Historic Week The record-breaking week saw digital asset investment vehicles garner inflows of […] Source CryptoX Portal
The eyes of global authorities, including Interpol, have been on Kwon ever since Terra collapsed in mid-2022. Terra’s collapse wiped out billions of dollars of investor funds, and Kwon fled to Montenegro, where he was arrested for possession of falsified official documents. The courts in Montenegro are deciding the destination of his extradition. Source
The report, which cites documents from the Securities and Exchange Commission (SEC) of Nigeria, follows headlines from February that Nigeria’s government had blocked local access to several crypto platforms, including Binance, Kraken and Coinbase. Coinbase said at the time that it remained accessible and did not immediately respond to a CoinDesk request for comment on the current status. Source
“We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain. The main thing is to make sure it is convenient for governments, common people and businesses, as well as cost-effective and free of politics,” Kremlin aide Yury Ushakov said in an interview with TASS. Source
Two executives of the exchange were detained last week on arrival in the country. Source
The government of Nigeria is demanding billions of dollars from Binance, alleging that the crypto exchange manipulated the exchange rate of its fiat currency. According to a new report by the BBC, the Nigerian government is slapping Binance with a $10 billion fine, claiming that the top global crypto exchange by volume manipulated foreign exchange rates to the point where the naira – the nation’s issued currency – fell 70%. Bayo Onanuga, special advisor to Nigerian President Bola Tinubu, tells the BBC that Binance failed to register with the government…