Binance CEO Richard Teng celebrates the release of his executive, Tigran Gambaryan, from Nigerian detention on health grounds.
Following the release of Tigran Gambaryan, a senior executive at the cryptocurrency exchange, Binance CEO Richard Teng, spoke out. Gambaryan was accused of tax evasion and money laundering during his nearly eight-month detention in Nigeria.
Nevertheless, he has been permitted to return to the United States for medical treatment following the dismissal of the charges.
Binance CEo’s Perspective on Tigran Gambaryan Release
Binance CEO Richard Teng expressed his relief and gratefulness for the release of Tigran Gambaryan in a post on X. Teng also expressed gratitude to Gambaryan for his fortitude during the detention, acknowledging that he must have endured numerous stressors and adversities.
”We are relieved and thankful that Tigran Gambaryan has been released at last, “Teng added.
He also stated that Gambaryan’s health is a top priority and that the company appreciates his ability to obtain the requisite medical attention.
Binance CEO Richard Teng also underscored the exchange’s commitment to collaborating with global regulators, citing the company’s compliance and transparency initiatives.
Binance’s Richard Teng remains optimistic about the future of blockchain, particularly in Nigeria, despite the legal challenges the country is facing. Nigeria has demonstrated a keen interest in digital finance.
Charges & legal proceedings were dismissed
Gambaryan and Binance were accused of laundering over $35 million by the Nigerian Economic and Financial Crimes Commission (EFCC). The EFCC stated that the case against Binance would continue even though the accusations against Gambaryan were withdrawn to allow him to seek medical treatment outside the country.
The cryptocurrency exchange Binance has denied all allegations, but ongoing tax evasion charges against the company have not been ruled out.
The charges against the Binance executives were withdrawn by the EFCC counsel, Ekele Ihenacho, because of his poor health, according to the court in Abuja. The intervention of diplomats to ensure that Tigran Gambaryan was sent out of Nigeria was the catalyst for his release following his arrest in February of this year. Ihenacho also confirmed that these diplomatic talks facilitated the release of the Binance exec, though he did not elucidate any further.
U.S. Government Response on the Release
Concurrently, U.S. National Security Advisor Jake Sullivan confirmed Tigran Gambaryan’s release on humanitarian grounds. Sullivan expressed his gratitude to Nigerian officials and diplomatic partners who worked to assure that Gambaryan could return to the United States.
Sullivan stated, “I immediately contacted Mr. Gambaryan’s wife, Yuki, to inform her of the good news.” Gambaryan’s wife had publicly advocated for her husband’s release amid concerns regarding his declining health.
Sullivan also underscored the significance of U.S.-Nigeria collaboration, expressing optimism that the bilateral relationship between the two nations would continue to fortify. According to Sullivan, this collaboration was instrumental in the Binance executive’s release.
