Crypto Cataclysm Averted! Presidency Says Binance Almost Sent Naira to the Netherworld


UK Bans World's Largest Cryptocurrency Exchange, Binance

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)!

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