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Binance Users’ Assets Exceed $100 Billion - Business - Nairaland

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Binance Users’ Assets Exceed $100 Billion by Great100000: 9:12am On Mar 19
The world’s biggest cryptocurrency exchange, Binance, has announced that the value of assets it holds for its users has crossed the $100bn threshold.

The crypto exchange made this disclosure in a statement on Monday.

This achievement comes amid a surge in digital asset prices and an influx of strong inflows throughout March.

The exchange wrote on X (former Twitter), “The value of user asset holdings on Binance now exceeds $100bn.

“All user funds are backed at a 1:1 ratio and are fully verifiable through our Proof of Reserves, which highlight our commitment to user funds transparency,”

Two weeks ago, Binance announced its decision to cease its naira to dollar exchange services in Nigeria due to a dispute with Nigerian authorities, who accused the platform of manipulating the country’s foreign exchange rate.

Despite denying these allegations and refuting claims of facilitating illicit fund flows, Binance faced increasing scrutiny.

The Central Bank of Nigeria Governor Yemi Cardoso said that over $26bn in illicit funds had transited through the platform in the previous year.

In response to concerns, Binance disclosed that it had restricted 281 accounts belonging to Nigerians due to money laundering suspicions in 2022.

The platform highlighted its collaboration with the federal government to combat illicit activities and protect users.

However, tensions persist as Nigerian authorities sought detailed information from Binance, including data on its top 100 users and transaction histories for the past six months.

Despite the request, Binance had not yet responded.

Subsequently, a Federal High Court in Abuja issued an order for Binance to furnish the Economic and Financial Crimes Commission with comprehensive information regarding all Nigerian traders on its platform, following an ex-parte motion filed by the EFCC.
Source: https://punchng.com/binance-users-assets-exceed-100bn/

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Re: Binance Users’ Assets Exceed $100 Billion by MrProlific95: 9:30am On Mar 19
Thought as much, Malami has money on Binance, let Government get a list of all Binance Nigerian Users, I am an expert in that field Government can get my analysis for free

21 Likes 1 Share

Re: Binance Users’ Assets Exceed $100 Billion by crossfm: 1:06pm On Mar 19
Hehehe.

Nigeria government won't like this news grin tongue.

Na Nigeria looted funds na him full there tongue.

6 Likes 3 Shares

Re: Binance Users’ Assets Exceed $100 Billion by yesloaded: 1:07pm On Mar 19
Re: Binance Users’ Assets Exceed $100 Billion by Bluearrow: 1:07pm On Mar 19
Instead of Nigeria govt to liaise with these people peacefully by asking for tax remittance & regulating their operations to follow official exchange rate, they are doing gra gra. US wey retain binance them think they don't know what they are doing. How can any responsible govt shut such a big market capable of generating good revenue. Not to talk of a struggling nation with a dwindling economy like ours

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Re: Binance Users’ Assets Exceed $100 Billion by Beverlyjean(f): 1:07pm On Mar 19
Apc criminals in buharis regime used Binance to stuff stolen money , so that it wudnt be traceable

1 Like

Re: Binance Users’ Assets Exceed $100 Billion by Zooposki(f): 1:07pm On Mar 19

1 Like

Re: Binance Users’ Assets Exceed $100 Billion by ObaOfEsan: 1:07pm On Mar 19
uhmm
Re: Binance Users’ Assets Exceed $100 Billion by PlasmaTV: 1:07pm On Mar 19
Lol. Onanuga, an old man with grey hair but empty head, said that Binance is responsible for Nigeria's ailing economy. Lol.

Now that BAT and his cronies have banned Binance, has naira dropped to #500/$1? Clowns. Always blaming everybody and everything except themselves.

For the clowns on Nairaland who were blaming binance for our extremely weak currency, have you guys repented or do I need to buy Essential Economics SS1 for you??

23 Likes 1 Share

Re: Binance Users’ Assets Exceed $100 Billion by telim: 1:08pm On Mar 19
The total assets is for binance users in every country including Nigeria.
Re: Binance Users’ Assets Exceed $100 Billion by Draslo(m): 1:08pm On Mar 19
80% Na proceeds from terrible thing

2 Likes

Re: Binance Users’ Assets Exceed $100 Billion by trutharena: 1:08pm On Mar 19
Zooposki:
Pretty sure na their EMILOKAN and Agbadorians thieves store their wealth.

Na Binance the foolishh Obi use for his Pandora asset.

I’m sure when Binance start listing their top 100, we will see Obi name on it.

26 Likes 2 Shares

Re: Binance Users’ Assets Exceed $100 Billion by writeprof(m): 1:08pm On Mar 19
I won't be surprised to see Nigerian banks as the major dealers in Binance.

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Re: Binance Users’ Assets Exceed $100 Billion by money121(m): 1:09pm On Mar 19
Chai
Re: Binance Users’ Assets Exceed $100 Billion by richard870(m): 1:09pm On Mar 19
It should be worth more
Re: Binance Users’ Assets Exceed $100 Billion by Omoawoke: 1:09pm On Mar 19
They should pay us the amount they owe us

1 Like

Re: Binance Users’ Assets Exceed $100 Billion by Yonline: 1:09pm On Mar 19
somebody is looking fpr something that is not lost
Re: Binance Users’ Assets Exceed $100 Billion by GlocusDan: 1:09pm On Mar 19
They should release the information required of them if they are transparent as said.

2 Likes

Re: Binance Users’ Assets Exceed $100 Billion by softtorce: 1:09pm On Mar 19
Re: Binance Users’ Assets Exceed $100 Billion by Seunpapa65: 1:09pm On Mar 19
cheesy
Re: Binance Users’ Assets Exceed $100 Billion by Omoawoke: 1:09pm On Mar 19
Beverlyjean:
Apc criminals in buharis regime used Binance to stuff stolen money , so that it wudnt be traceable

Then why did they ban it?

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Re: Binance Users’ Assets Exceed $100 Billion by PlasmaTV: 1:10pm On Mar 19
trutharena:


Na Binance the foolishh Obi use for his Pandora asset.

I’m sure when Binance start listing their top 100, we will see Obi name on it.
Your tears are sweet. May you not hang from high blood pressure, cos how you managed to introduce Peter Obi into this equation is very jarring.

6 Likes 1 Share

Re: Binance Users’ Assets Exceed $100 Billion by Jh0wsef(m): 1:10pm On Mar 19
Ok.
Re: Binance Users’ Assets Exceed $100 Billion by PlasmaTV: 1:10pm On Mar 19
Omoawoke:
They should pay us the amount they owe us
Owe you? You worked for their pockets or what? Go to school, dude.

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Re: Binance Users’ Assets Exceed $100 Billion by edenex: 1:11pm On Mar 19
Nice one
At least I am part of it smiley
Re: Binance Users’ Assets Exceed $100 Billion by Zooposki(f): 1:11pm On Mar 19
trutharena:


Na Binance the foolishh Obi use for his Pandora asset.

I’m sure when Binance start listing their top 100, we will see Obi name on it.

4 Likes 1 Share

Re: Binance Users’ Assets Exceed $100 Billion by edenex: 1:11pm On Mar 19
GlocusDan:
They should release the information required of them if they are transparent as said.

The day they release the user's list. Is when they crumble. And trust me. Binance won't release any users list. Not for a comedy country like the shlthole
Re: Binance Users’ Assets Exceed $100 Billion by Didijiji: 1:12pm On Mar 19
Make una borrow Tinubu na make dollar go back to 216 wey PDP leave am before these idiots came to power

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Re: Binance Users’ Assets Exceed $100 Billion by FreeStuffsNG: 1:13pm On Mar 19
Draslo:
80% Na proceeds from terrible thing
God bless you!

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Re: Binance Users’ Assets Exceed $100 Billion by softtorce: 1:14pm On Mar 19
That is what you think, there is a difference in government. Tinubu's govt is different from Buhari though they are both APC.

If the country economic goodwill is lost to manipulation by Binanace from stolen wealth under Buhari I expect Tinubu to retrieve those funds no matter whose Ox is gored to salvage the economy for the sake of the country n his name. I am not saying he will but that is the bearest minimum expected of him.

crossfm:
Hehehe.

Nigeria government won't like this news grin tongue.

Na Nigeria looted funds na him full there tongue.

1 Like 1 Share

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