Crypto Cataclysm Averted! Presidency Says Binance Almost Sent Naira to the Netherworld
President Tinubu’s team is throwing some serious shade at Binance, accusing them of being the economic equivalent of a toddler throwing a tantrum in the cereal aisle.
“They’re hijacking the CBN’s role like a kid changing the thermostat 10 times in an hour!” declared Bayo Onanuga, the President’s media whisperer. ️
This comes after two Binance execs were “detained” (read: politely escorted for a chat) and their passports “confiscated” (read: borrowed for a game of international hide-and-seek).
Reports claim the execs were “invited” by the government, but Onanuga insists they were warned of Binance’s potential to “cripple” the economy, basically like a rogue AI taking over the stock market.
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“We were told that if we don’t clampdown on Binance, Binance will destroy the economy of this country. They just fix the rate. It is a sabotage,” Mr Onanuga said.
On Wednesday, Binance disabled its peer-to-peer function for Nigerian users. Peer-to-peer function, popularly known as P2P, allows users, buyers, and sellers to trade without third-party interference.
With the disabling of the P2P function for Nigerian users, Nigerians might no longer trade on Binance.
So, is this a case of a government flexing its muscle or just a hilarious misunderstanding over virtual coins and real consequences? You be the judge (and grab some popcorn, this one’s gonna be a wild ride)!
