Richard Teng, CEO of cryptocurrency trading platform Binance, has called for the immediate release of his employee, Tigran Gambaryan, who is standing trial in Nigeria.
Gambaryan was arrested and detained in February alongside another executive, Anjarwalla, after the Nigerian government banned Binance’s website.
Teng stated that the government had no valid reason to detain an innocent employee to advance discussions on outstanding issues. He denied allegations of money laundering and terrorism financing activities conducted on the Binance currency exchange platform.
Teng said, “There is no need to imprison an innocent employee to address any allegations against Binance. We have resolved issues in countries around the world, including the US, Thailand, and most recently in Brazil and India, in a reasonable, collaborative, and amicable manner with governments.”
Teng also denied that Binance was responsible for the currency decline in Nigeria, stating that the downward trend persisted despite Binance ceasing to offer P2P services in the country in February 2024.
Teng further stated that Nigeria was never a significant market for Binance, contradicting the government’s claims of $26bn in revenue from Nigeria in 2023.
Teng lamented that Gambaryan’s physical and mental conditions had deteriorated rapidly, accusing the government of refusing to provide adequate medical care. He urged the government to release Gambaryan and provide access to his legal counsel.
