Binance takes legal action in Nigeria and secures US customer assets.
Binance CEO Changpeng Zhao has issued a cease and desist order to "Binance Nigeria Limited", calling the Nigerian company a "scammer entity". This comes after Nigeria's markets regulator ordered Binance to halt its operations in the country, saying the local unit was not registered or regulated. Binance has faced a string of setbacks recently, including plans to leave several countries and being charged by the SEC for allegedly misleading investors and artificially inflating trading volumes.