Binance CEO Richard Teng is rallying for the release of Tigran Gambaryan, the company’s head of financial crime compliance, who remains imprisoned in Nigeria. Gambaryan, arrested on February 26, 2024, faces serious charges of tax evasion and money laundering by the Economic and Financial Crimes Commission (EFCC). However, recent developments have seen Nigeria’s Federal Inland Revenue Service (FIRS) drop tax-related charges against him.
In a recent Cointelegraph report, Teng expressed deep concern over Gambaryan’s deteriorating health. The Binance CEO has underscored the company’s commitment to pursuing all legal and political avenues to secure Gambaryan’s release. Teng’s statements reflect the gravity of the situation, emphasizing that the detained executive is unable to make decisions for the firm and urgently needs to return home for medical treatment and family support.
In a poignant post on X (formerly Twitter), Teng stated, “This inhumane treatment of Tigran must end. He must be allowed to go home for medical treatment and to be with his family.” His comments highlight the mounting pressure on Nigerian authorities to reconsider Gambaryan’s detention.
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The situation has also impacted Binance’s operations in Nigeria. The company has announced it will withhold compliance with Nigeria’s digital asset regulations until Gambaryan is released. Binance’s stance is a clear signal of the complex regulatory challenges faced by cryptocurrency firms when dealing with high-profile legal issues involving key executives.
The broader crypto community is closely monitoring the case, with implications for Binance’s future operations in Nigeria and the broader regulatory landscape for digital assets. As the situation evolves, the urgency surrounding Gambaryan’s release remains a central issue for both Binance and the cryptocurrency industry at large.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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