“There's a syndicate within Nigeria that was leveraging arbitrage in a heavy and hurtful manner to the naira." - Ray Youssef
Techpoint Africa - Apr 18, 2024
Binance has been on the receiving end of Nigeria’s onslaught against crypto, from blocking its websites to arresting its employees. There is a syndicate within Nigeria that leverages arbitrage to manipulate the naira, buying it for cheap and selling it for a profit in the black market.
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