Binance CEO Richard Teng has stated that his team has been working tirelessly to ensure that Tigran Gambaryan returns to the United States, as the executive’s health deteriorates daily.
“We have appealed to the Nigerian government repeatedly to release Tigran […] so that he can go home and get the proper medical treatment that he needs.”
“There is no necessity to restrict our personnel.” At the Token2049 conference in Singapore on September 19, Teng told Cointelegraph, “He is being held unjustly and unfairly.”
“He can’t walk properly, and he’s not getting the proper medical treatment.”
The CEO of Binance is optimistic that the United States will designate Gambaryan as unlawfully detained to expedite the process. He also stated that Binance has attempted to persuade the Nigerian government to liberate Gambaryan on humanitarian grounds.
Since his imprisonment in Nigeria, Gambaryan has contracted malaria and contracted pneumonia on two separate occasions, according to Teng. In May, he collapsed unexpectedly while appearing before a court due to his deteriorating health.
Upon the Nigerian government’s invitation to resolve Binance’s compliance issues in the country, Gambaryan, the cryptocurrency exchange’s head of financial crime compliance, traveled to Nigeria on February 26.
Nevertheless, Gambaryan was apprehended by Nigerian authorities after two meetings that were initially characterized as professional but became increasingly hostile. The executive of Binance is currently residing in the “notorious” Kuje Prison in Nigeria, which is renowned for its inhumane conditions.
12 US politicians supported Gambaryan in June, urging President Joe Biden, Secretary of State Antony Blinken, and the Presidential Envoy for Hostage Affairs Roger Carstens to prioritize his case.
On September 18, Gambaryan’s mother, Knarik Gambaryan, urged US authorities to intensify their efforts.
The US politicians think that Gambaryan was indicted for several “baseless” crimes, including money laundering and tax evasion. They believe that these charges are part of a coercion strategy employed by Nigerian officials to extort Binance.
Although Gambaryan is Teng’s primary concern, he remains optimistic that Binance can make a meaningful contribution to Nigeria’s economic development in the future.
According to a November 2023 CoinGecko report, which cites Statistica data, Binance is one of the leading cryptocurrency exchanges in Nigeria, conducting approximately 32% of the cryptocurrency transactions conducted by Nigerians.
Bybit, KuCoin, and NairaEx are among the country’s most frequently utilized trading platforms.
Chainalysis’ report on September 11 indicates that Nigeria is the second-largest adopter of cryptocurrency globally.
