Binance has voiced its frustration over the continued detention of Tigran Gambaryan, one of its top executives, who has been held by the Nigerian government for more than 220 days. Gambaryan, a key figure in cryptocurrency compliance, was arrested on charges related to money laundering. Despite the charges, Binance maintains that Gambaryan is not a decision-maker in the company and has questioned the legitimacy of the arrest.
Gambaryan’s health has significantly deteriorated during his detention. Reports have revealed that he has suffered from double pneumonia, malaria, and a herniated disc. Most recently, he appeared in court limping and in visible pain after being denied access to a wheelchair. Binance has repeatedly raised concerns about his well-being, emphasizing that his health has continued to worsen under these conditions.
In a statement, Binance expressed its “deep disappointment” at the Nigerian court’s decision to deny Gambaryan bail. Despite efforts by his legal team to secure his release on medical grounds, the court has remained firm. Binance has reiterated its willingness to settle any outstanding issues with the Nigerian government through dialogue, as it has done successfully in countries like Brazil and India. However, the company insists that Gambaryan’s detention is unnecessary for these discussions to proceed.
“We remain committed to working with the Nigerian government to resolve any alleged issues. But Tigran should not have to endure this unjust detention for these matters to be settled,” a Binance spokesperson said. The company has emphasized that while they are ready for constructive dialogue, it is imperative that Gambaryan be allowed to return home, as his detention is becoming a serious humanitarian concern.
The case has sparked debate about the wider implications of cryptocurrency regulation and the challenges posed by governments in this space. Binance’s situation in Nigeria underscores the evolving landscape of crypto regulation, with governments tightening controls over crypto exchanges and platforms. Binance’s ongoing engagements with authorities reflect the global tension between regulatory oversight and the operational freedom of cryptocurrency companies.
