Quantcast

Financial policy analyst Anthony: Nigerian 'government’s on‐​again, off‐​again price controls have largely made a mess of the economy'

SEC's Absence at Binance Settlement Announcement Raises Questions
Binance Tops PYMNTS' Provider Ranking of Crypto Wallets
Are Binance and France the newest couple in Crypto Town?
L’ETF BTC de BlackRock engrange 100 000 dollars, sans être approuvé - Coins.fr
Binance’s Top Executive Team to ‘Remain Intact,’ New CEO Says
Le FSB souhaite s'assurer que les règles pour les bourses crypto sont suffisantes - Coins.fr
Selon le célèbre Arthur Hayes, le traitement réservé à CZ et Binance par les USA est absurde
Les plans du nouveau PDG de Binance après le départ de CZ
Guerre anti-crypto : Binance.US traqué par la SEC
Binance menacée de fermer ? Ce nouvel élément déterminera tout
Columbia Business School Professor on Binance settlement: Major financial firms have been caught doing worse 'yet suffered much milder consequences’
Binance investit dans Open Campus, un protocole éducatif web3 - Coins.fr
“Il m’a royalement ignorée” : Christine Lagarde raconte la mésaventure crypto de son fils
Waltio lève 1,8 million d'euros, notamment auprès du Crédit Agricole
Bitcoin ETF Optimism Spurs Largest Asset Inflows Since Late 2021
New Binance CEO shares vision for crypto’s future
Fraudes aux crypto-actifs : KPMG et Chainalysis s’allient - Coins.fr
Agrément PSAN : le scepticisme des acteurs traditionnels
Binance settles with US regulators, CEO steps down as part of deal
Après la condamnation de Binance, les filiales sous pression
Binance Founder Changpeng Zhao Agrees to Step Down, Plead Guilty
Mastercard is making efforts to better detect crypto fraud with AI tie-up
US Seeks More than $4 Billion From Binance to End Criminal Case
UK retail sales fall to two-year low as inflation-hit consumers cut spending
Europe needs its own SEC, says Christine Lagarde
Singapore opens the door to a shrinking market
Macron argues against 'punitive' AI regulation
A Chypre, un conglomérat de cybersurveillance entre opacité juridique et optimisation fiscale
Lagarde calls for European SEC, Unified Exchange to address regional challenges
L'échange d'infos fiscales crypto automatisé dans 47 pays en 2027 - Coins.fr
Financial policy analyst Anthony: Nigerian 'government’s on‐​again, off‐​again price controls have largely made a mess of the economy'
Webp tigrantinubu
Binance Head of Financial Crime Compliance Tigran Gambaryan (left) and Nigerian President Bola Ahmed Tinubu (right) | LinkedIn/tigran-gambaryan, statehouse.gov.ng

Nicholas Anthony, a policy analyst at the Cato Institute's Center for Monetary and Financial Alternatives, has stated that if the Nigerian government had refrained from implementing "on‐again, off‐again price controls," they might not be blaming the cryptocurrency exchange Binance "for the naira’s latest crash." Anthony shared these insights on April 11 in a commentary posted on the Cato Institute's website titled "Nigeria’s Government Is Blaming Binance for Its Own Mismanagement."

"Taking accountability for mismanaging the naira begins with letting the market, and the market alone, decide the exchange rate for the naira," said Anthony. "The government's on‐again, off‐again price controls have largely made a mess of the economy. In fact, had the government not placed such a heavy hand on exchange rates, it's unlikely that Binance would have ever been blamed for the naira's latest crash considering part of the accusation was that Binance manipulated the exchange rates."

In his commentary, Anthony pointed out that the Nigerian government had engaged in "years of currency mismanagement." Consequently, many Nigerians turned to cryptocurrency as a means to gain exposure to alternative currencies. When the naira crashed again in February, government officials singled out cryptocurrency as the cause. Officials then invited Binance to send representatives to Nigeria to discuss the situation. However, upon arrival, these employees were detained and placed under house arrest. Among them was Tigran Gambaryan, an American citizen and former U.S. federal government agent.

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.

According to The Conversation, Nigeria's inflation rate escalated from 28.92% in December to 29.90% in January - a peak unseen in two decades. The value of the naira depreciated by 69% between June 2023 and mid-February 2024. As a result, Nigerian residents are grappling with skyrocketing costs for basic necessities while the country's economic predicament shows little sign of improvement without fiscal discipline from its government.

Gambaryan joined Binance in 2021 as Vice President of Global Intelligence and Investigations, according to information available on Binance's website. Prior to this role, Gambaryan spent ten years as a special agent with the Internal Revenue Service—Criminal Investigation (IRS-CI) Cyber Crimes Unit based in Washington D.C.. During his tenure at IRS-CI, Gambaryan spearheaded several multi-billion dollar cyber investigations, including those into Silk Road and the Mt. Gox hack.

In an April 4 post on Binance's website, the company "respectfully requests that Tigran Gambaryan, who has no decision-making power in the company, is not held responsible while current discussions are ongoing between Binance and Nigerian government officials." The post further highlighted that Gambaryan "is a strict law enforcement professional" whose team has responded to over 600 information requests from Nigerian law enforcement since he joined the company in 2021.

Anthony's research, as stated on the Cato Institute website, primarily focuses on monetary and financial economics. He is recognized as an expert on topics such as cryptocurrency, central bank digital currency, and financial privacy. Additionally, he holds a fellowship at the Human Rights Foundation.

More News

Brad Garlinghouse, CEO of Ripple, said that the company enables global financial institutions to enhance cross-border payments and efficiency through digital technology.

Jul 9, 2025

Changpeng Zhao, founder of Binance, said that a move for Fannie Mae and Freddie Mac to count bitcoin as a mortgage asset signals a shift in the American Dream.

Jul 7, 2025

Binance has announced the launch of PIXEL APR Boost Airdrop Rewards for the 11th project on BNSOL Super Stake, in collaboration with Pixels (PIXEL), a web3 game on the Ronin Network.

Jul 7, 2025

Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), said that public companies increased their bitcoin holdings more rapidly than exchange-traded funds (ETFs) in the second quarter.

Jul 5, 2025

CoinFlip, a global digital currency platform, has announced the launch of a new user interface for its CoinFlip Preferred service.

Jun 30, 2025

Gum Shoe, a crypto influencer, has highlighted the long wait times and high fees at Coinbase compared to better service at Binance as evidence of the need for increased competition among U.S. crypto exchanges.

Jun 23, 2025