In a recent statement, Richard Teng, the CEO of the cryptocurrency behemoth Binance, alleged that representatives of Nigerian authorities solicited a clandestine payment to resolve the company’s regulatory issues in Nigeria. Teng, succeeding the company’s original founder Changpeng Zhao, disclosed on Binance’s official blog that this proposition was conveyed via a domestic law firm engaged by the firm.
“Counsel reported back that he had been presented with a demand for a significant payment in cryptocurrency to be paid in secret within 48 hours to make these issues go away and that our decision was expected by the morning,” Teng said in the blog post.
“We, of course, declined the payment demand via our counsel, not viewing it to be a legitimate settlement offer, and clarified that we would engage in settlement negotiations on the following conditions:”
