Stock-trading platform Robinhood is diving deeper into the cryptocurrency realm with the acquisition of crypto exchange Bitstamp.
With Bitstamp under its wing, Robinhood says that it will be better positioned to target retail and institutional crypto investors across Europe, Asia, and the U.S., with Bitstamp currently holding more than 50 licenses and registrations to operate in these markets.
“The acquisition of Bitstamp is a major step in growing our crypto business,” Robinhood’s crypto general manager Johann Kerbrat said in a statement.
“The Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors.
Through this strategic combination, we are better positioned to expand our footprint outside of the U.S. and welcome institutional customers to Robinhood.”
Nigeria is actively seeking information from Binance regarding its top 100 users in the country and all transaction history spanning the past six months, according to a Financial Times report.
As a result, the detained executives may allegedly face charges related to currency manipulation, tax evasion, and illegal operations, per a Bloomberg report.
FT says Nigeria’s anti-corruption agency was granted permission to detain both Binance executives for 14 days, which concluded on Tuesday; there’s a proposed hearing to extend the court order scheduled for Wednesday.
Nigeria’s request for Binance’s top users in the country is a focal point in negotiations between the largest crypto platform and the top African crypto market.
Meanwhile, documents reviewed by FT reveal that Nigeria, through its national security adviser, has requested that Binance address any outstanding tax liabilities.
Some cryptocurrency exchanges in Nigeria faced accessibility issues for users, prompting speculation of imposed restrictions on crypto sites, the Financial Times reported.
On Wednesday, local media reported that Nigeria’s telecom regulator, the Nigerian Communications Commission (NCC), received instructions from the country’s apex bank to suspend access to crypto websites, including Binance, Coinbase and Kraken.
According to Bloomberg, a presidential spokesman confirmed Nigeria’s issuance of a directive instructing telecoms and internet service providers to block access to cryptocurrency trading platforms.
Only users attempting to access the website are impacted, although the app is currently available,” Binance stated.
While several Binance users in Nigeria reported difficulties accessing the site in the early hours of Thursday, it appears that the directive to restrict access has been temporarily halted, as these cryptocurrency trading platforms, including Kraken and Coinbase, are currently accessible.
Cryptocurrencies are becoming increasingly popular, with many people turning to them for financial security and stability. However, even with the growing popularity of cryptocurrencies, there is still a large amount…
