The FBI cracks down on cryptocurrency companies and slaps Binance with a $10 billion punishment

According to Onanuga, users of the cryptocurrency trading platform fixed dollar-to-naira conversion rates at will.In the midst of Nigeria's assault on cryptocurrency companies, the Federal Government has fined Binance $10 billion.In an interview with the BBC on Friday, March 1, 2024, Bayo Onanuga, President Bola Tinubu's Special Advisor on Information and Strategy, revealed this.The government is working to restore the value of the naira, which includes the action taken by the FG against Binance. According to Onanuga, the dollar-naira exchange rate was artificially fixed by users of the cryptocurrency trading site, which had a detrimental effect on the value of the currency.