Binance CEO Calls for Release of Detained Crypto Expert in Nigeria 🆓
Binance Holdings Ltd. CEO Richard Teng has recently spoken out against the Nigerian government’s prolonged detention of Tigran Gambaryan. Teng believes that Gambaryan is being unfairly held as a scapegoat and has called for his immediate and unconditional release.
Binance and Nigeria: A Growing Conflict ⚔️
- The Nigerian government appears to be following the lead of the US government, which previously fined Binance over $4 billion and sentenced its former CEO to four months in prison.
- Reports of Nigeria demanding a $10 billion fine from Binance have been downplayed by most experts, although the situation remains tense.
- The Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC) have maintained a relatively silent stance on the matter.
- NFIU’s use of unofficial channels to communicate with Binance led to the detention of Gambaryan, much to the disapproval of Teng.
The Innocence of Tigran Gambaryan 🕵️♂️
It is essential to note that Gambaryan traveled to Nigeria not as a decision-maker or negotiator but as a specialized expert in financial crime and policy development. His primary role was to contribute his expertise to discussions and not engage in any controversial activities.
“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 highlighted.
Understanding the High Stakes Involved 💰
The Nigerian government has attributed the increasing demand for cryptocurrencies to the country’s struggling national currency, with the Nigerian Naira currently trading at around 1,383 per US dollar. To address this issue, the Nigerian SEC has proposed various regulatory changes, including potentially banning certain transactions involving the Naira.
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