Here’s what happened in crypto today

Cryptocurrency is shaping up to be a hot-button topic for the U.S. electorate. Binance’s CEO has spoken about the detention of its staff in Nigeria and suggested officials tried to coerce the exchange into paying a settlement in secret. Meanwhile, the U.S. securities regulator postponed a decision on Galaxy’s Ethereum ETF bid. 

Crypto could be an important election issue in the U.S.

Crypto is “top of mind” for voters in key U.S. swing states, a sign that voters may back candidates who have a favorable stance toward digital assets.

According to a survey conducted by Digital Currency Group and The Harris Poll, more than two-thirds of respondents somewhat or strongly agreed that “crypto is for people like them, and more equitable than the financial system. More than 90% of respondents in key swing states, including Michigan, Nevada, and Pennsylvania, said they planned to vote in the 2024 presidential election.

“Digital assets have emerged as a significant issue in the upcoming election,” said Blockchain Association CEO Kristin Smith. “Additionally, over one quarter (26%) of voters indicate that they are actively weighing political candidates’ positions on digital assets when making their decisions. These data underscore the increasing relevance of our issues in shaping the electoral landscape of 2024.”

As Cointelegraph reported, three crypto-focused political action committees raised more than $100 million to support crypto-focused candidates in the upcoming elections.

Nigerian officials proposed secret crypto settlement, claims Binance CEO

New details have emerged suggesting Nigerian officials tried to coerce Binance representatives into a secret settlement paid in cryptocurrency during meetings in early 2024.

Binance CEO Richard Teng issued a detailed account of Tigran Gambaryan’s ongoing detention on May 7. Gambaryan is a former United States Internal Revenue Service agent who headed up Binance’s financial crime compliance team.

According to Teng, Binance employees began discussions with Nigerian authorities during public investigative hearings following a request from the chairman of the House of Representatives Committee on Financial Crimes (HCFC).

The committee is reported to have highlighted issues related to Binance’s operations in Nigeria and outlined the lengths to which they were prepared to summon Binance, including issuing arrest warrants against the exchange’s team and CEO and preventing its delegation from leaving the country.

Binance’s CEO alleges that unknown persons approached the exchange’s employees and suggested making a payment in settlement of the allegations. Teng said Binance’s local counsel was handed over terms from an agent representing the HCFC committee.

The exchange declined the payment demand through its local legal representation and continued its engagement in the settlement negotiations. Binance put forward several demands following the incident as it prepared to continue discussions with Nigerian authorities.

SEC kicks Galaxy spot Ether ETF decision to July

The United States Securities and Exchange Commission delayed deciding on Galaxy Invesco’s bid for a spot Ether (ETH) exchange-traded fund (ETF) — giving itself another 60 days to make a call, with the next deadline set to July 5.

In a May 6 filing the regulator said it was “appropriate to designate” itself more time so it “has sufficient time to consider the proposed rule change and the issues raised therein.”