In response to price suppression, Binance has acknowledged that it has suspended trading on its platform in Nigeria.
This was disclosed after rumors circulated last night regarding the cryptocurrency company limiting trade on its platform.
"To protect users, and to prevent any abuse, our system automatically pauses in the event of a period of significant currency movement," the company said in a statement on Wednesday, assuring its clients that their money is safe.
“Late last night, we observed a temporary suppression of prices that briefly reached our system limit. We quickly made the necessary adjustments to allow trading to continue.”
The company stated that it inhibits the fast removal of abnormal pricing from its platform because of its ongoing market surveillance.
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