Binance Executive Released on Humanitarian Grounds
After being held for nearly eight months on charges of money laundering, Tigran Gambaryan, a top executive at Binance, has finally been released from a Nigerian prison and is on his way back to the United States. The news comes as a huge relief not only to Gambaryan’s family but also to the cryptocurrency exchange, which still faces two ongoing trials in Nigeria.
Charges Dropped
According to sources close to the case, the Nigerian Economic and Financial Crimes Commission (EFCC) has dropped all charges against Gambaryan. This decision was made after considering "critical international and diplomatic reasons," as stated by an EFCC prosecutor in court.
Release on Humanitarian Grounds
Gambaryan’s release is being described as a humanitarian gesture, with his health having deteriorated significantly while in prison. He developed malaria, pneumonia, and tonsillitis during his detention, which left him needing a wheelchair for mobility.
"We are deeply relieved and grateful that Tigran Gambaryan has finally been released after enduring nearly eight months of detention in Nigeria," said Richard Teng, CEO of Binance, in a statement. "We appreciate the efforts of the U.S. government in securing his release."
Medical Attention Needed
Gambaryan’s wife, Yuki, had been campaigning for her husband’s release, and she is overjoyed that he has finally been freed. In an interview with CoinDesk, she expressed her gratitude to the U.S. government for its efforts in securing his release.
"It is a huge relief that this day has finally come," she said. "The past eight months have been a living nightmare."
Return to the United States
Gambaryan will be returning to the United States to receive medical attention, according to U.S. National Security Advisor Jake Sullivan. The U.S. government had been involved in securing his release and facilitated his departure from Nigeria.
"It’s in our interest to ensure that American citizens who are abroad are treated fairly and humanely," Sullivan said in a statement.
Binance Still Faces Ongoing Trials
While Gambaryan has been released, Binance still faces two ongoing trials in Nigeria. The first trial is on charges of money laundering, while the second trial is related to tax evasion.
Timeline of Events
- January 2023: Tigran Gambaryan is arrested in Nigeria on charges of money laundering.
- February 2023: Gambaryan’s health begins to deteriorate significantly while in prison.
- March 2023: His applications for bail are denied, but his release to receive medical attention abroad is approved.
- April 2023: The Nigerian EFCC drops all charges against Gambaryan on humanitarian grounds.
Reactions from the Cryptocurrency Community
The cryptocurrency community has been watching the developments in Nigeria closely, and many have expressed their relief that Gambaryan has finally been released.
"We are thrilled to hear that Tigran Gambaryan has been released," said a spokesperson for the Cryptocurrency Lawyers Association. "This is a testament to the growing recognition of the importance of digital assets and the need for fair treatment of individuals involved in the space."
Conclusion
The release of Tigran Gambaryan marks a significant development in the ongoing saga surrounding Binance’s presence in Nigeria. While the exchange still faces two ongoing trials, the dropping of charges against Gambaryan is a welcome relief for all parties involved.
As the cryptocurrency market continues to evolve and grow, it will be interesting to see how these developments impact the industry as a whole. For now, Gambaryan’s release is a beacon of hope for those facing similar challenges in the future.
