Binance CEO Richard Teng has publicly advocated for the prompt release of Tigran Gambaryan, a Binance official who has been incarcerated in Nigeria for more than 70 days. Teng of the ‘Binance Team‘ recently criticized the detention as unjust and urged the Nigerian government to act quickly.
Gambaryan, a former US federal agent recognized for his work in financial crime compliance, has been in custody since February 26 after being suspected of benefitting from unlawful transactions alongside Binance’s Africa regional manager, Nadeem Anjarwalla.
Teng wrote on his blog, “To invite a company’s mid-level employees for collaborative policy meetings, only to detain them, has set a dangerous new precedent for all companies worldwide.”
Teng also expressed his support for Gambaryan on Twitter, stating that his arrest was unconstitutional.
Binance CEO Halts Operations Amid Executive Detainment
The CEO was particularly concerned about the chilling effect Gambaryan’s protracted detention would have on worldwide corporate activities. In reaction to the circumstances, Teng announced the suspension of various Binance operations in Nigeria, including P2P products and naira pair trading, in order to address regulatory difficulties and facilitate communication with Nigerian authorities.
Anjarwalla escaped jail on March 22, while Gambaryan remains detained. Teng emphasizes Gambaryan’s considerable contributions to Binance’s compliance efforts, as well as his excellent integrity, stating that the claims against him are baseless and detrimental to international business ties.
However, he highlighted that resolving Gambaryan’s case is critical to normalizing Binance’s operations in the region.
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