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BINANCE FORMER CEO STARTS NEW PLATFORM?

Changpeng Zhao, the former CEO and co-founder of Binance, revealed a new initiative on Monday and promised to provide further information shortly. According to a post on X, CZ is working on a new project called the "Education project," rather than a new cryptocurrency. Nothing is known about the project's specifics or if it will operate on the Binance platform. Zhao may be starting a new initiative to educate investors and cryptocurrency novices about the market now that he has resigned as CEO of Binance.

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The co-founder and former CEO of Binance, Changpeng Zhao, revealed a new initiative on Monday, promising to provide further information shortly. CZ announces that a new project—an "education project" rather than a new token—is on the horizon in a post on X. It's unclear exactly what this initiative would involve or whether it will operate on the Binance platform. Zhao resigned from his position as CEO of Binance, thus it's probable that he will be starting a new initiative to educate novice cryptocurrency investors and traders.

 

 

When Changpeng Zhao provides further information about his new endeavor likewise unknown. It will be intriguing to find out more about the project's nature and participants soon. Zhao wrote on X back in December, "Learning again by meeting founders." Maybe the new endeavor will involve working with the creators of other well-known cryptocurrency platforms or firms.

 

Meanwhile, Binance has been ordered by a Nigerian court to relinquish all Nigerian traders' data on its platform: Report Following an earlier report that stated Nigeria requested access to Binance's top 100 users in the country as well as all transaction data for the previous six months, an interim injunction was issued.

 

A Nigerian court has ordered Binance to give the country's Economic and Financial Crimes Commission (EFCC) detailed information on any Nigerian who trades on its platform. The temporary injunction follows a previous report that stated Nigeria had requested that the cryptocurrency exchange provide data about its top 100 customers in the nation as well as the complete transaction history for the previous six months. However, it appears that the EFCC's attorney, Ekele Iheanacho, was granted permission to file a motion asking for information on any Nigerians who may be trading on Binance, according to Justice Emeka Nwite of the Federal High Court's Abuja Division.

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Nigeria's law enforcement organization that looks into financial crimes is called the EFCC. "As pleaded, the application of the applicant, dated and filed February 29, 2024, is thus granted. According to the report, the judge issued an order requiring Binance's operators to give the commission detailed data and information about any Nigerian who trades on the site. Nigeria has acted against the cryptocurrency sector for allegedly enabling illicit capital outflows, which is said to have caused the value of the Nigerian naira to fall to all-time lows with the US dollar. Authorities in the country are particularly interested in Binance's operations and have demanded $10 billion in fines for facilitating the transfer of almost $26 billion in untraceable assets.

Published in Business
Last modified on Tuesday, 19 March 2024 13:01
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Kayode Olorundare

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