Quantcast
Telegram : Pavel Durov is officially expressing himself for the first time since his custody
BlackRock’s tokenisation push kicked off an $8.9bn frenzy that experts say is accelerating
Ripple USD Stablecoin Could Be Issued in 'Weeks, Not Months': Garlinghouse
Mastercard enables non-custodial crypto spending in new partnership
Wife of ex-federal agent imprisoned in Nigeria: 'he is now reaching the point of no return'
Nvidia Loses $270 Billion In One Day: A Record Drop Shakes The Global Tech Market.
Telegram would own several hundred million dollars in cryptocurrencies
Bitcoin Posts Negligible Bounce, but Extreme Fear Suggests Larger Rebound in Store
WazirX Hacker Starts to Move Stolen Ether Using Tornado Cash
Elon Musk’s xAI Colossus goes online — and it really is colossal
Bitfarms mines 233 BTC in August as Riot pens open letter in takeover saga
Surfin' Bitcoin 2024 : Everything you missed at the biggest Bitcoin conference in France
Russia Is About to Try Using Crypto to Get Around Sanctions
Bitcoin as legal tender? Mixed results for Nayib Bukele, the president of El Salvador
France’s Telegram blunder means Europe will hunt for Satoshi next
Bitcoin Slips Back to $58K in Continued Desultory Action, but Next Week Could Offer Upside Excitement
Sony lance officiellement le testnet public de Soneium, son propre layer 2 basé sur Ethereum
France Charges Telegram's Pavel Durov, Sets Bail at €5 Million – Bitcoin News
Bitcoin Mining Is So Rough a Miner Adopted Michael Saylor's Successful BTC Strategy
From Richard Teng, Binance CEO: Tigran’s Deteriorating Condition After 6 Months of Unjust Detention
UK’s crypto dreams stall as registrations with financial regulator remain low
Concerns grow over Binance executive’s health during detention in Nigeria
Vitalik attacks DeFi and millions come out of’Ethereum
Telegram CEO's arrest tied to cybercrime investigation of unauthorized 'cryptology' services, say French authorities
‘My Living Nightmare’: Detained Binance Exec’s Wife Begs for His Immediate Release
Bitcoin, Binance, Ethereum, Solana, and Ripple: The Biggest Crypto News of the Past Week
Crypto: Ethereum ETFs are experiencing a record series of outflows!
Salvador: 80,000 civil servants trained in Bitcoin – A visionary initiative or a risky bet ?
The Fed is ready to cut interest rates — what that means for crypto
Binance Launches Mobile Money Feature for Crypto Transactions in Africa – Exchanges Bitcoin News

Washington University crypto expert on Nigeria's crypto crackdown: 'Don't blame Binance for bitcoin's existence'

Webp weinhaus
Eddie Weinhaus, Washington University crypto expert | coachforged.com

Coach Weinhaus, a doctoral candidate studying cryptocurrency and monetary sovereignty at the Washington University School of Law and CEO of Judiciocracy, recently discussed the increasing popularity of cryptocurrency in Nigeria with Crypto Republique. He stated that this trend reflects the Nigerian populace's desire for a currency more stable than their native naira. This comes amidst recent actions by the Nigerian government to ban multiple crypto exchanges, including Binance, as part of an effort to protect the naira.

"Demand for crypto is a comment on a nation's currency - don't blame Binance for bitcoin's existence," said Weinhaus.

Bloomberg reported that Nigeria's currency hit a record low after falling another 2.1% at the end of February. Despite a significant rate hike by the Central Bank of Nigeria, the naira continues its decline and is currently trading at its lowest point against the U.S. dollar since Bloomberg began tracking this data.

Get the Newsletter
Sign-up to receive weekly round up of news from Crypto Republique
By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

CoinTelegraph reported on efforts by the Nigerian Central Bank to strengthen the naira through banning multiple crypto exchanges. As part of these measures, Binance, recognized as the world's largest crypto exchange, removed the naira from its peer-to-peer trading platform on February 28th. There have been reports suggesting that amid this crackdown, the Nigerian government is considering imposing a fine on Binance. Furthermore, two Binance officials are reportedly being detained in Abuja by Nigeria's National Security Adviser’s office.

According to a report from the Crypto Council for Innovation, Nigerians have been utilizing digital assets for routine transactions, as a hedge against inflation and for investment purposes. The report notes that "Nigerians are keen to protect the value of their money," particularly given that food costs reached a 27-year high in December 2023. The report also highlighted Nigerians' appreciation for lower fees and faster transaction times associated with cross-border crypto payments. With Nigeria heavily reliant on remittances which can carry traditional financial system fees as high as 36%, it is unsurprising that half of Nigerian respondents in a 2023 survey by Consensys expressed a desire for crypto regulations that would protect users while also encouraging adoption.

Weinhaus's academic and professional focus on cryptocurrency and monetary sovereignty is outlined in his LinkedIn profile. He holds a Juris Doctor (JD) from Washington University, a master's degree in digital currency from the University of Nicosia, an MBA from the University of Chicago Booth School of Business, and a bachelor's degree in economics from the London School of Economics.

More News

BBVA announced it is expanding its cryptocurrency custody and trading services to include USD Coin (USDC). This addition will benefit the bank’s institutional and individual account holders in Switzerland.

Sep 16, 2024

Alpha Architect announced Larry Swedroe's insights on the impact of spreading volatility in private investments. The research shows that private equity's infrequent valuations can smooth returns, leading to underestimated risks and over-allocation.

Sep 14, 2024

The European Crypto Initiative (EUCI), a blockchain advocacy group, said that the MiCA Regulation aims to create a harmonized regulatory framework for crypto-assets. EUCI shared their statement on a September 6th post on X.

Sep 13, 2024

The European Crypto Initiative (EUCI), a European blockchain advocacy group, stated that the Markets in Crypto-Assets (MiCA) regulations are poised to bring significant changes to the crypto world within the European Union. EUCI shared their statement on September 4 via a post on X.

Sep 6, 2024

Dimitrios Psarrakis, a former EU economist, stated that U.S. lawmakers are attempting to align with the EU's crypto regulations as established by the Markets in Crypto-Assets legislation. Psarrakis shared his statement in an August 26 video posted by the European Crypto Initiative on X.

Sep 5, 2024

Kaiko, a Paris-based crypto market data provider, reported that the stablecoin FDUSD saw a "notable" increase in its market share on Binance, the largest crypto exchange in the world by trading volume, at the end of July. Kaiko shared this statement in an August 19 post on its website.

Sep 2, 2024