Binance CEO Breaks Silence On Tigran Gambaryan’s Release

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As a researcher with years of experience following the intricacies of the global financial industry and cryptocurrency exchanges, I have witnessed numerous legal battles between these entities and regulatory bodies. The case of Tigran Gambaryan, a high-ranking executive at Binance, is one that has caught my attention due to its complexity and the lengthy detention of Mr. Gambaryan in Nigeria.

In response to the release of Tigran Gambaryan, a top official at Binance Exchange, Richard Teng, the CEO, has made public comments. Gambaryan had been held captive in Nigeria for approximately eight months due to allegations of money laundering and tax avoidance.

Following the dismissal of the charges, I was granted permission to re-enter the U.S., primarily for seeking necessary medical attention.

Binance CEO’s Take on Tigran Gambaryan’s Release

On platform X, the CEO of Binance, Richard Teng, expressed feelings of relief and gratitude upon the release of Tigran Gambaryan. In addition, Teng thanked Gambaryan for maintaining a strong spirit during his arrest, acknowledging that he likely faced significant stress and difficulties.

”We are relieved and thankful that Tigran Gambaryan has been released at last, “Teng added. 

Additionally, it was emphasized that Gambaryan’s wellbeing is crucial and that the organization expresses gratitude for his ability to obtain essential medical attention when needed.

Richard Teng, CEO of Binance, underscored the exchange’s commitment to collaborating with global regulatory bodies, citing their focus on compliance and transparency. Despite encountering legal challenges in Nigeria, Teng expressed optimism about the potential of blockchain technology within Nigerian markets, which have demonstrated a keen interest in digital finance.

Legal Proceedings and Charges Dropped

The Nigerian Economic and Financial Crimes Commission (EFCC) accused both Gambaryan and Binance of money laundering amounting to over $35 million. Despite the dropped charges against Gambaryan, who was allowed to seek medical attention abroad, the EFCC stated that they would continue with their case against Binance.

Ongoing tax evasion charges against the cryptocurrency exchange Binance have not been ruled out, with the company denying all the allegations.

Lawyer Ekele Ihenacho, representing the EFCC, informed the court in Abuja that the accusations against the Binance executive had been dropped because of his deteriorating health status. Tigran Gambaryan, who was apprehended in February this year, was freed following diplomatic intervention to secure his departure from Nigeria. Ihenacho additionally verified that these diplomatic discussions were instrumental in releasing the Binance executive; however, he did not provide any additional details regarding the negotiations.

U.S. Government Response to the Release

At the same time, it was verified that Tigran Gambaryan was released on humanitarian grounds, a fact confirmed by U.S. National Security Advisor Jake Sullivan. Sullivan expressed his appreciation to Nigerian officials and diplomatic allies who collaborated in facilitating Gambaryan’s return to the United States.

Immediately after successfully freeing Mr. Gambaryan, I reached out to his wife, Yuki, to share the fantastic news about his release, as she has been advocating for his freedom due to worries regarding his declining health. (Sullivan’s statement)

Sullivan underscored the significance of the partnership between the U.S. and Nigeria, expressing optimism that this alliance would further solidify. He highlighted that this relationship was crucial in securing the release of the Binance executive, as stated by him.

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2024-10-24 18:48