Nigeria v. Binance

🇳🇬 Nigeria's $10 Billion Claim Against Binance

Significant Financial Demand: Nigeria's government has accused Binance of profiting from illegal activities and demands $10 billion in damages, a substantial claim affecting the cryptocurrency exchange's operations.

Regulatory Scrutiny Intensifies: The Nigerian authorities are intensifying their scrutiny of Binance. This includes the detention of company executives and an investigation into the exchange's business practices, signaling a serious regulatory challenge for Binance in Nigeria.

Binance's Response and Actions: In response to these developments, Binance has removed the Nigerian naira from its peer-to-peer service. This decision highlights the escalating tension between the cryptocurrency exchange and Nigerian regulators. Read More.

️ On today's Top Picks:

  1. 🤝 Robinhood teams up with Arbitrum.
  2. ⚖️ Elon Musk sues OpenAI & Sam Altman .
  3. 👾 New phishing kit targets cryptocurrency.
  4. 🔓 Sui ~$55M token unlock on March 2nd.

Read time: ⏰ 7 minutes


Crypto News


• ⭐️ Nigerian government demands $10B from Binance claiming it profited from illegal transactions at the country’s expense.

Morgan Stanley $MS considers offering spot Bitcoin $BTC ETF.

BlackRock spot Bitcoin ETF $IBIT now holds $10B worth of Bitcoin $BTC.

• ⭐️ Robinhood $HOOD teams up with Arbitrum $ARB to offer access to swaps on Arbitrum L2.

US State Attorneys argue SEC overstepped its bounds in Kraken lawsuit.

SEC raises objections to Terraform's $166M retainer payment to Dentons law firm.

Gemini agrees to return more than $1B to customers and pay $37M fine.

Coinbase to migrate half of Ethereum $ validators to Nethermind.

Alpha


Blast Mainnet is live by Earndrop.

Blast Mainnet Intract Quest by Earndrop.

Morpho Blue now supports Renzo $ezETH.

Bebop launches Hop on Blast with Bebop Achievement.

Ambient Finance launches of Ambient Points Season 1.

RedStone Oracles posts, "season one loading ▓▓▓▓▓▓▓▓▓▓▓░ 95%" on X.

Rabby Wallet iOS now live on the Apple App Store.

Blur posts, "Time for something new. April." on X with blurry image attached.

Zora adds support for Blast and releases free BLORB NFT.

Proof of Play Apex Chain now live with Pirate Nation.

Airdrops


Aark announces MOON FESTIVAL airdrop campaign.

Fluence announces $FLT developer airdrop for contributions to open source Web3.

SynFutures posts, "...we’re on the path to a token launch." on X.

Finance News


• ⭐️ Elon Musk sues OpenAI & CEO Sam Altman for alleged breach of contract.

Vanguard CEO Tim Buckley set to retire at the end of 2024.

Snowflake $SNOW shares plunge ~17% amid CEO retirement.

Electronic Arts $EA to lay off ~670 (5%) employees citing the sunsetting of games.

Security and Exploits


SlowMist Monthly Security Report highlights ~$404M in estimated losses.

• ⭐️ New Phishing Kit targets cryptocurrency users with similar tactics to Scattered Spider group.

Revoke Cash adds support for Blast Mainnet.

US President Biden issues executive order that prohibits transfer of US citizens' data to countries of concern.

Token Unlocks


⭐️ • Sui $SUI / 34.62M / ~$55M / MAR 02


Funding


Binance Labs announces MVB Season 7 cohort.

Morpho Labs, an Ethereum lending protocol; raises an undisclosed amount in funding from Pantera Capital.

Cetus Protocol, a Move-based DEX & concentrated liquidity protocol; raises an undisclosed amount in Strategic funding from the Sui Foundation.

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PROTOCOLASSETSAPY
Curve DEX logoCurve DEX (Ethereum)SDAISUSDE181.44%
Aerodrome logoAerodrome (Base)DOLAUSDC172.02%
Uniswap V3 logoUniswap V3 (Ethereum)USDEUSDT94.70%
Turbos logoTurbos (Sui)USDTUSDC54.75%
Notional V3 logoNotional V3 (Arbitrum)NDAI53.97%
Abracadabra logoAbracadabra (Arbitrum)MIMUSDCUSDT44.55%
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. . .

That’s it for today’s edition! See you soon.

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