Despite facing regulatory challenges and scrutiny in multiple jurisdictions, Binance, one of the top cryptocurrency exchanges, has managed to expand and remain standing. Other exchanges have collapsed under regulatory pressure, but Binance has persisted. In Nigeria, two Binance executives were arrested, accusing the exchange of manipulating the exchange rate. Binance denied the allegations and ended its naira services after Nigeria blocked access to its website. Despite facing regulatory issues in the US and UK, Binance continues to grow and present a strong presence in the crypto world. The challenges faced by Binance came after the exchange relocated its headquarters from Hong Kong to Malta due to regulatory scrutiny in China. In 2024, Binance reported significant year-on-year growth and an increase in its user base. However, it is important to note that the information presented in the article is for informational purposes only and does not constitute financial advice.



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