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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

Key Takeaways

On Tuesday, March 19, 2024, the two Binance executives who have been detained for three weeks in Nigeria were taken to a Federal High Court hearing by the Economic and Financial Crimes Commission (EFCC) who were seeking to extend the pairs detention order.

The detention comes as part of a recent crypto crackdown in Nigeria, with Binance and some heavy allegations are at the center of it all.

Following their detention by the office of the National Security Advisor (NSA) at the end of February, the pair have been held, with their passports seized without a criminal conviction.

Tigran Gambaryan, a former crypto-focused US federal agent who is now Binances Head of Financial Crime Compliance, and Kenyan Binance executive, Nadeem Anjarwalla, have so far been detained for three weeks.

Although the judge made no ruling on EFCCs request to extend their detention order, which originally expired on March 12, it seems as though Gambaryan and Anjarwalla will remain in Nigeria until the ruling arrives. According to Reuters, the families of the detained executives said in a statement:

At the court hearing in Abuja today, which was attended by Tigran and Nadeem, the court ruled that after hearing arguments from both parties, they would resume the session on April 5.

These events come as Binance finds itself deeply embroiled in major legal trouble in Nigeria following allegations of money laundering, processing some $21.6 billion in illegal and illicit transactions, and destabilizing the national currency.

The Nigerian government intends to get to the bottom of their investigations. It is still unknown whether indefinitely and perhaps illegally detaining two Binance employees will be good for their case against the exchange.

Support for Anjarwalla has also come from industry ally and blockchain lobby group, the Blockchain Association of Kenya (BAK).

Speaking with the Mount Kenya Times, the association expressed its concerns, saying:

The arbitrary detention of Nadeem Anjarwalla and his colleague not only undermines principles of transparency, due process, and respect for human rights but also jeopardizes the advancement of blockchain technology and innovation in our region.

According to Pulse Nigeria, Anjarwallas wife Elahe said that she was completely heartbroken over the situation. She pleaded with authorities for his timely release, saying in a statement:

Nadeem has no authority to make high-level decisions at Binance. I am once again asking from the bottom of my heart that the Nigerian authorities please allow him and Tigran to return home while they continue their discussions with Binance.

The case of Binance in Nigeria is rapidly developing, so heres a quick rundown of events.

After reversing a ban on crypto in December 2023, the Nigerian government became suspicious of Binances peer-to-peer (P2P) Naira/USDT trading pairs. It claimed Binance was fixing the exchange rate, further damaging the declining Nigerian economy and the naira.

Binance also stood accused at the time of processing some $26 billion in unknown funds. This resulted in the government demanding $10 billion in damages. It also launched a probe into the exchange, demanding the entirety of its Nigerian customers user data.

Binance swiftly delisted all Naira-based trading pairs and essentially closed shop in Nigeria. Meanwhile, just two days after arriving in Nigeria, seemingly to discuss matters with the authorities, the Binance execs were detained.

Now, the authorities are attempting to reform rules around crypto operators and increase registration, application, and other fees for firms. Things are increasingly dire. Meanwhile, Nigerian authorities are looking for the smoking gun which could, perhaps justify their recent actions.

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Binance Nigeria Executives Remain in Custody, Appear in Court - CCN.com

In a surprising turn of events, the global laptop production industry witnessed a significant decrease in 2023. This downturn has sent shockwaves through the tech world, as laptops have become an integral part of our daily lives. This article will delve into the reasons behind this decline and its potential implications for consumers and the technology market as a whole.

The decline in laptop production in 2023 can be attributed to several factors, each playing a significant role in reshaping the industry. One of the primary reasons is the ongoing semiconductor shortage, which has disrupted the supply chain for various electronic devices, including laptops. This shortage has resulted in delayed production and increased costs for manufacturers, making it challenging to meet consumer demand.

Additionally, the COVID-19 pandemic has continued to impact the industry, with labor shortages, factory shutdowns, and transportation disruptions affecting production and distribution. Many laptop manufacturers were forced to reduce their workforce or operate with reduced capacity due to safety measures and lockdowns.

The global supply chain is a critical component of the laptop production process. The intricate network of suppliers, manufacturers, and distributors has been strained by various disruptions, such as natural disasters, trade disputes, and the pandemic. These challenges have made it difficult for laptop manufacturers to source essential components, resulting in production delays.

Furthermore, the trade tensions between major economies, such as the United States and China, have led to restrictions on the export and import of technology components, further exacerbating supply chain issues. This has left laptop manufacturers with limited options and increased costs.

Another significant factor contributing to the decrease in laptop production is the rising manufacturing costs. The semiconductor shortage and supply chain disruptions have driven up the prices of essential components, such as microprocessors and memory chips. As a result, laptop manufacturers have had to absorb these increased costs or pass them on to consumers in the form of higher prices.

Consumers, already facing economic challenges in the wake of the pandemic, have become more price-sensitive when purchasing laptops. This has led to a decrease in demand, further impacting the production volume.

The changing landscape of consumer preferences has also played a role in the decline of laptop production. With the growing popularity of smartphones and tablets, some users are shifting away from traditional laptops. These smaller, more portable devices offer convenience and versatility, which has led to decreased demand for traditional laptops.

Additionally, the rise of remote work and online learning has increased the demand for more powerful laptops, capable of handling demanding tasks. This has shifted the focus towards high-end laptops and gaming laptops, further impacting the overall production numbers.

The decrease in laptop production in 2023 has several implications for consumers. Firstly, it may result in longer waiting times for those in need of a new laptop. The ongoing supply chain challenges and production delays could lead to product shortages in the market.

Secondly, consumers should be prepared for potential price hikes on laptops due to increased manufacturing costs. As manufacturers struggle to maintain profitability in the face of rising expenses, they may pass on these costs to buyers.

Lastly, consumers should carefully consider their laptop needs and preferences. With the changing landscape of technology, there are various options available, from traditional laptops to 2-in-1 convertible devices and tablets. Its essential to choose a device that suits ones specific requirements.

In conclusion, the decrease in laptop production in 2023 is a multifaceted issue driven by the semiconductor shortage, supply chain challenges, increased manufacturing costs, and shifting consumer preferences. This decline has significant implications for consumers, including potential delays and price increases. As the technology industry continues to evolve, consumers should stay informed and make informed choices when it comes to purchasing laptops.

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Binance Coin (BNB) Price Rebounds with Market Confidence - SFC Today