In the latest update regarding the detention of Binance executive Tigran Gambaryan in Nigeria, Binance CEO Richard Teng revealed that the company has launched a special task force working tirelessly to secure his release.
Gambaryan, detained since February 2024, faces charges related to money laundering and tax evasion. Binance has repeatedly denied these allegations, insisting that Gambaryan is being held unjustly.
Speaking at the Token2049 conference in Singapore, Teng expressed the emotional toll the detention has taken on the executive and his family. According to reports, Gambaryan has contracted pneumonia twice during his imprisonment and is suffering from a longstanding back issue, leading to several health scares, including collapsing in court. Despite these severe health conditions, Nigerian authorities have been slow to provide adequate medical care.
Binance has sought diplomatic channels to secure Gambaryan’s release, hoping the U.S. government will designate him as unlawfully detained, which could expedite his extraction. Additionally, Binance is exploring political and legal measures while urging the Nigerian government to release Gambaryan on humanitarian grounds.
The backdrop of this case highlights the ongoing challenges Binance faces in various jurisdictions worldwide. The company, known for being the world’s largest cryptocurrency exchange, has dealt with regulatory issues in multiple countries, including the U.S., India, and Brazil.
Binance’s efforts to comply with local regulations and resolve disputes have been largely successful elsewhere, but in Nigeria, the situation has taken a far more serious turn.
While Gambaryan remains in detention, Binance continues to advocate for his release, stressing the unjust nature of his imprisonment and the dire state of his health. The task force remains dedicated to bringing Gambaryan back to the U.S. safely.
