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Binance Urges U.S. to Secure Release of Executive Detained in Nigeria

Binance, a leading cryptocurrency exchange, is calling on the U.S. government and international bodies to intervene in the case of Tigran Gambaryan, a top executive who has been detained in Nigeria for the past six months. Binance asserts that Gambaryan’s detention is unjust and is severely impacting his health due to inadequate medical care and legal access.

Health Concerns and Detention Issues

Binance CEO Richard Teng has expressed grave concern over Gambaryan’s deteriorating health. Gambaryan, who suffers from a herniated disc, is reportedly experiencing severe pain and mobility issues. According to Teng, Nigerian authorities have denied Gambaryan basic medical necessities, including a wheelchair, and have not complied with a court order to release his medical records. This lack of care is exacerbating his condition.

Allegations and Company Response

Binance contends that the allegations against Gambaryan are unfounded and part of an attempt to shift blame for Nigeria’s economic difficulties onto the company. Teng points out that Binance’s operations in Nigeria are relatively minor and that Nigeria’s economic troubles, including the decline of the Naira, stem from broader global issues rather than the company’s activities. He argues that detaining an innocent employee is not a solution to these challenges.

Calls for International Action

In response to Gambaryan’s continued detention, Binance is intensifying its efforts to secure his release. The company is urging the U.S. government to officially designate Gambaryan as “unlawfully detained,” a move that could increase political pressure on Nigeria to release him on humanitarian grounds. Binance is also rallying global support to condemn Nigeria’s detention practices and advocate for Gambaryan’s freedom.

Future Collaboration Contingent on Release

Despite the current conflict, Binance has expressed a willingness to collaborate with Nigeria in the future, especially in developing the country’s Web3 sector and attracting foreign investment. However, this cooperation is contingent upon Gambaryan’s release. Teng has appealed to Nigerian authorities on humanitarian grounds to allow Gambaryan, a former U.S. federal agent, to return to his family.

Summary

Binance is making concerted efforts to secure the release of Tigran Gambaryan, whom the company believes has been unjustly detained by the Nigerian government. The company is calling for international support to pressure Nigeria to respect human rights and release Gambaryan. While Binance remains open to future collaboration with Nigeria, resolving this issue is seen as crucial for any further engagement.

August 2024, Cryptoniteuae

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Vaibhavv Ali
Vaibhavv Ali

Vaibhavv Ali is the founder and editor of Cryptonite (cryptonite.ae), an independent digital-asset news and analysis publication with a UAE focus. He covers virtual-asset regulation — VARA, ADGM and the UAE Central Bank — alongside real-world-asset tokenization, stablecoins and agentic AI in finance. Every Cryptonite article is human-edited and its sources are linked. He is also a celebrated speaker and host.

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