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It doesnt appear that Tigran Gambaryan and Nadeem Anjarwalla will be free anytime soon.

The two senior Binance executives held in a Nigerian government guest house since they were arrested on February 28 are looking at another 16 days in detention following a court appearance Wednesday, according to people close to the case.

The Abuja Federal High Court ruled that it would hear preliminary arguments on the custody of both men on April 5.

The governments anti-corruption authority, which is spearheading a wide-ranging probe of Binances activities in Nigeria, is seeking a new two-week detention order for the pair.

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But the two executives, who had their passports confiscated and have been held under guard, have been detained without a court order since their first detention expired on March 12.

While its unclear precisely why the two Binance men are being detained, what is certain is that Gambaryan and Anjarwalla are now looking at spending more than a month in custody.

And they have not been charged with a crime.

Binance did not respond to requests for comment from DL News on Wednesday.

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A Binance spokesperson told DL News last week that the company is working with the authorities to resolve the matter and bring the two executives back home.

On Monday, the Economic and Financial Crimes Commission, or EFCC, obtained a court order directing Binance to turn over user details of the estimated 13 million customers it serves in Nigeria.

The agency is probing whether Binance, which has not registered or licenced its operations in Africas largest nation, is facilitating unlawful currency market manipulation and the movement of illicit money, officials say.

Gambaryan is a US citizen and the head of the exchanges financial crime compliance department and a former senior agent at the US Internal Revenue Service.

Anjarwalla, a British citizen, is Binances Kenya-based manager. They both arrived in Nigeria to settle a regulatory dispute in connection with currency speculation with officials face to face.

That meeting ended without an agreement and the pair were immediately detained in a guest house run by Nigerias state security service.

Binance, meanwhile, has delisted Nigerias naira from its platform, forcing the countrys buoyant crypto crowd to use alternative avenues.

Osato Avan-Nomayo is DL News Nigeria-based DeFi correspondent. He covers DeFi and tech. To share tips or information about stories, please contact him at osato@dlnews.com.

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Binance execs to spend 16 more days in Nigerian custody without charges after court ruling - DLNews

16h30 3 min of reading by Fenelon L.

Binance Coin (BNB), the native token of crypto giant Binance, is on the verge of reaching new all-time highs. Lets dive into the main drivers propelling its massive adoption and growth potential.

The success of BNB is based on its increasingly diversified and growing utility within the Binance ecosystem. Initially created to offer discounts on trading fees, the token has expanded its scope of application.

BNB holders not only benefit from reduced fees but also attractive yields through staking, which can reach up to 6% per annum. This feature encourages users to HODL their tokens, thereby strengthening the supply and demand dynamics.

But BNBs utility doesnt stop there. It also serves as a governance token and gas on the Binance Smart Chain (BSC), an increasingly popular blockchain for the development of dApps. With billions of dollars in value locked in BSC protocols, BNB confirms its status as a pivotal asset.

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Beyond its flourishing utility, BNB benefits from another significant advantage: its deflationary economic model. Indeed, every quarter, Binance burns a portion of its BNB profits, which permanently reduces the circulating supply.

This practice, which has accelerated recently, exerts upward pressure on the tokens price. Simply put, a rarer supply against a growing demand can only propel prices upward. Thus, investors appreciate this approach that preserves the value of their holdings over the long term.

Moreover, its impossible to ignore the exceptional reputation that the Binance brand enjoys in the crypto universe. As the undisputed leader in terms of trading volumes, Binance inspires confidence and loyalty in its vast community.

Many see Binance as a key player in the democratization of cryptocurrencies and are eager to participate in its success by holding BNB. Thus, this emotional dimension, coupled with the solid fundamentals of the token, greatly contributes to stimulating speculative demand around BNB.

Driven by increasing utility, a deflationary tokenomics, and the strength of the Binance brand, BNB has all the assets to continue its ascent towards new heights. Its status as an essential token within an ever-expanding ecosystem makes it an asset of choice for investors looking to expose themselves to the future of decentralized finance.

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Passionn par le Bitcoin, j'aime explorer les mandres de la blockchain et des cryptos et je partage mes dcouvertes avec la communaut. Mon rve est de vivre dans un monde o la vie prive et la libert financire sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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Binance Coin is soaring to its all-time high! - Cointribune EN

A federal high court in Abuja has ordered the worlds largest cryptocurrency exchange Binance to provide Nigerias Economic and Financial Crimes Commision (EFCC) with information on all the Nigerians who are using its trading platform.

The African nation has been stepping up pressure on crypto exchanges as it tries to halt speculation on its currency, the naira.

Among other things, Nigeria banned several crypto trading websites last month and has blamed the rapid devaluation of the naira on speculators who, the government says, have been using crypto trading platforms to establish an unofficial price for the Nigerian currency.

The court order comes as Nigeria continues to detain without charge two of the exchanges employees, American Tigran Gambaryan, a former IRS agent who specialized in cryptocurrency tracking, and Nadeem Anjarwalla, a UK citizen who is the companys Kenya-based regional manager for Africa.

People familiar with the situation told Recorded Future News, the two men are being held in a government compound where they are only allowed to use their phones to contact lawyers and family. They have been held there, under guard, since February 26.

The two men have a court hearing set for Wednesday and, according to a Reuters report, the commission has filed a petition to extend the executives detention.

The EFCC and Binance did not immediately respond to requests for comment.

The court said it has granted the EFCCs demand for Binance to turn over user information as part of what it says is a larger investigation into alleged money laundering and terrorism financing on the Binance platform. Commission investigators say they have intelligence that suggests that there is money laundering and terrorism financing on the platform, but have not revealed any details on the evidence they allegedly have.

Nigerias central bank governor, Olayemi Cardoso, told reporters at a press conference last month that the central bank was concerned that crypto exchanges were adding to speculation and allowing illicit funds to flow through their platforms.

In the case of Binance, in the last one year alone, $26 billion has passed through Binance Nigeria from sources and users who we cannot adequately identify, he told the reporters last month according to a report in the Financial Times.

Since the detention of its executives, Binance has halted all its services in Nigeria and blocked peer-to-peer transactions and trading on the naira against bitcoin and the tether digital coins on its exchange.

Recorded Future

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Dina Temple-Raston

is the Host and Managing Editor of the Click Here podcast as well as a senior correspondent at Recorded Future News. She previously served on NPRs Investigations team focusing on breaking news stories and national security, technology, and social justice and hosted and created the award-winning Audible Podcast What Were You Thinking.

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Nigerian court orders Binance to release user data, as company execs continue to be held without charge - The Record from Recorded Future News

With Bitcoins (BTC) next halving event just around the corner, many analysts anticipate another market rally just before or following the event. Binance Coin (BNB) has witnessed a significant pump over the last few weeks, rallying nearly 21% in the 14-day charts, 56.6% over the previous month, and almost 74% since March 2023.

Also Read: Binance Executives Still in Nigeria Custody After Court Appearance

BTCs halving will reduce the assets supply and thereby may lead to an increase in prices. Being the market leader, BTC could trigger a market-wide rally for other altcoins, such as Binances BNB.

According to CoinCodex, BNB could rise to $738.31 on Apr. 10, 2024. Reaching $738.31 from current levels would translate to a growth of about 29.3%. However, the platform predicts BNB may witness a correction soon after hitting the $738.31 mark, falling to $683.6 by Apr. 20, 2024.

Also Read: Binance Tasks Prime Brokers with Identifying U.S. Nationals

Changelly, on the other hand, does not anticipate Binances BNB to breach the $700 in April. The platform predicts a maximum price of $699.85 in April, a rise of about 22.6% from current levels. Furthermore, according to Changelly, the $699.85 price level will be the highest for BNB in 2024. The platform expects the asset to head down for the rest of the year.

Telegaon, however, predicts BNB to hit a maximum price of $839.42 in 2024. Reaching $839.42 from current levels would translate to a growth of about 47.11%. However, the platform does not clarify which month of 2024 BNB may attain this level.

There is also a possibility that Binance Coin (BNB) may continue to surge even after hitting a high in April, contrary to Changellys prediction. If inflation in the US cools down, we may see a surge in the crypto market.

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Binance Coin (BNB) Price After Bitcoin Halving - Watcher Guru

Last updated: March 22, 2024 12:09 EDT | 3 min read

Binance Coin (BNB) is on a tear after the recent SEC decision on Bitcoin ETF, surging towards its all-time high. Meanwhile, savvy investors of Monero (XMR) and Hedera (HBAR) are rushing to the presale of emerging crypto InQubeta (QUBE). Lets take a closer look at these developments.

Binance Coin is experiencing a meteoric rise, and many experts are predicting its on the cusp of reaching a new all-time high (ATH). Recently, it saw a phenomenal 7% price increase, propelling BNB closer to the coveted $610 mark, currently trading at $529.

This bullish momentum isnt without reason. Market trends are favoring BNB lately, partly thanks to Bitcoins recent performance. Plus, the launch of cool projects like ether.fi (ETHFI) on the Binance Launchpool, where users can earn ETHFI by staking BNB, are adding fuel to the fire.

Big-shot crypto analysts like Altcoin Sherpa are pretty sure BNB is gearing up to revisit and maybe even top its previous peak of around $680. Sherpas been crunching the numbers and thinks a new all-time high (ATH) is within reach in the coming months.

Captain Faibik, another big deal in the crypto scene, agrees. He points out that BNB has blown past his earlier prediction by a whopping 120%. Faibik originally said BNB would hit a new ATH in the first half of 2024, and the current price action seems to be right on track with that.

Looking at the big picture, BNB has recently shot up by an impressive 57% over a one-month period. This kind of momentum sets the stage for BNB to potentially climb into new territory, with investors worldwide keeping a close watch on its journey to an unprecedented ATH.

InQubeta (QUBE) is attracting investors of top coins like Monero and Hedera by offering a blockchain ICO platform, opening up AI investments to everyone through crypto crowdfunding.

This innovative crypto ICO project is currently experiencing a highly successful multi-month presale, having already secured an impressive $12 million in funding. The current presale price sits at an attractive $0.028 per QUBE token, with the next and final stage set to see a price increase to $0.0308.

InQubetas core mission is to democratize AI investments by introducing the very first crypto crowdfunding platform for fractional AI startup investment all powered by the native QUBE token.

QUBE is a deflationary token that redefines the way AI startups secure funding and fosters community engagement. Built-in transaction taxes contribute to a burn wallet (2%) and a reward pool (5%), allowing holders to earn passive income through staking.

At the heart of InQubetas strategy lies a groundbreaking and popular NFT marketplace. Here, AI startups can mint each investment opportunity as an NFT, which can then be fractionalized. This approach, facilitated by blockchain technology and smart contracts, allows for flexible investor participation.

This unique model offers a win-win situation. AI startups gain access to fresh funding streams through reward and equity-based NFTs, while holders of QUBE ERC20 coins can effortlessly invest in projects theyre passionate about. Its a symbiotic ecosystem that fosters mutual growth.

The power doesnt stop there. QUBE empowers its holders by granting them governance rights. This means they can propose, discuss, and ultimately vote on improvements, actively shaping the platforms evolution. This governance aspect adds another layer of community involvement and decentralization to the InQubeta ecosystem.

The cryptocurrency market is like a rollercoaster of excitement and opportunities. Binance Coin (BNB) is gearing up for some serious gains as it eyes its ATH, while InQubeta is attracting investors with its innovative approach thats reshaping the AI investment scene.

InQubetas presale is hitting the final stretch, and the token price is about to shoot up. With a buzzing community, a clear roadmap, and a fresh take on AI investment, its a promising project thats worth considering now. Check out their website to learn more or participate in the presale, and join their lively community on Twitter for the latest news.

Visit InQubeta Presale

Join The InQubeta Communities

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Binance Coin Inches Toward All-Time High While Monero & Hedera Holders Rush to this AI Crypto Presale - Cryptonews