Binance CEO Urges Tigran Gambaryan’s Release Amid Nigeria Crisis

The CEO of Binance, Richard Teng, has issued a heartfelt plea today for the release of Tigran Gambaryan, a Binance executive detained in Nigeria for over 70 days. In a recent blog post, Teng expressed grave concerns over Gambaryan’s unjust detention and called upon the Nigerian government to take swift action. 

Here’s an overview of the unfolding crisis and Binance’s efforts to secure Gambaryan’s freedom.

Binance CEO’s Call For Justice

Richard Teng, CEO of Binance, has taken a bold stance in the ongoing saga surrounding the detention of Tigran Gambaryan, a dedicated member of the Binance team. In a poignant blog post, Teng emphasizes Gambaryan’s innocence and underscores the need for his immediate release. 

Notably, Gambaryan, a former U.S. federal agent with a sterling track record in combating financial crimes, has been unjustly held captive by Nigerian authorities for over 70 days. Meanwhile, Richard Teng passionately defends Gambaryan’s character and contributions to Binance, highlighting his pivotal role in shaping the company’s compliance framework and spearheading efforts to combat financial misconduct. 

According to the Binance CEO, Gambaryan finds himself ensnared in a web of baseless allegations and bureaucratic entanglements in Nigeria, despite his exemplary record and unwavering commitment to integrity. Besides, the CEO’s appeal extends beyond Gambaryan’s plight, resonating as a clarion call for justice and fairness in international relations. 

Meanwhile, Teng laments the alarming precedent set by Gambaryan’s detention, warning of its chilling effect on global business operations. In addition, he implores the Nigerian government to heed reason and compassion by promptly releasing Gambaryan and restoring his fundamental rights.

Notably, Teng’s impassioned plea underscores Binance’s unwavering commitment to its employees and the principles of justice and transparency. As the crypto community rallies behind Gambaryan, Richard Teng remains resolute in his resolve to secure his colleague’s freedom and uphold the values that define the crypto exchange’s mission.

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A Closer Look Into The Crisis

Despite concerted efforts by Binance and its leadership to engage constructively with Nigerian authorities, Gambaryan’s detention persists, casting a shadow of uncertainty over the company’s operations in the region. Richard Teng’s transparency in shedding light on the circumstances surrounding Gambaryan’s arrest underscores Binance’s commitment to accountability and ethical conduct.

The CEO’s decision to suspend certain operations in Nigeria as a gesture of goodwill reflects Binance’s proactive approach to addressing regulatory concerns and fostering dialogue with local stakeholders. However, Teng emphasizes that Gambaryan’s release remains paramount to achieving a resolution and restoring normalcy to Binance’s operations in Nigeria.

Meanwhile, Binance CEO Richard Teng expressed concern over a “secret” payment demand following undisclosed allegations in Nigeria. In his blog, he stated:

Counsel reported back that he had been presented with a demand for a significant payment in cryptocurrency to be paid in secret within 48 hours to make these issues go away.

In addition, the Binance CEO disclosed the Nigerian government’s push to detain an innocent employee and former U.S. federal agent reflects its attempt to control Binance operations. Amid distress for Tigran Gambaryan and the Binance community, the CEO halted P2P products and naira pairs trading on the platform. Despite the hope for his colleagues’ release and further dialogue with the government, no progress ensued.