Binance CEO Richard Teng shed light on the arrest of Tigran Gambaryan and Nadeem Anjarwalla in Nigeria, as well as the discussion of resolving regulatory issues.
Details of Arrest and Charges
Tigran Gambaryan, who leads financial crime compliance at Binance, and Nadeem Anjarwalla, the exchange’s regional head for Africa, were arrested on February 28 under the directive of Nuhu Ribadu, Nigeria’s national security adviser. They and Binance were accused of operating without a valid license, leading to their prolonged detention by the Economic and Financial Crimes Commission (EFCC).
Richard Teng's Comment
As Gambaryan’s trial approaches on September 2, Teng reiterated Binance’s commitment to resolving regulatory matters through collaboration, citing recent settlements with authorities in the U.S., Thailand, Brazil, and India. Teng emphasized that these resolutions were achieved without causing harm to employees, contrasting the current situation in Nigeria. Additionally, Richard Teng refuted claims that Binance’s activities were responsible for Nigeria’s economic issues, attributing the currency’s depreciation to broader macroeconomic factors and government decisions, notably the removal of the Naira’s currency peg in June 2023.
Tigran Gambaryan's Health and Call for Help
Teng called for international intervention to secure Gambaryan’s release on humanitarian grounds, urging the U.S. government to designate Gambaryan as an 'unlawfully detained' citizen to apply political pressure. Meanwhile, Tigran’s wife, Yuki Gambaryan, shared his deteriorating condition, mentioning that he is suffering from malaria, pneumonia, and severe mental stress. For the past six months, the Gambaryan family has faced a 'living nightmare,' making desperate appeals to governments, media, and the public for his release.
The situation with Tigran Gambaryan highlights the importance of international cooperation and the need for timely resolution of regulatory issues to protect employees.
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