• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
Binance

Freedom! Nigerian Court Clears Binance Exec, Orders Immediate Release

Christian Encila
by Christian Encila
11 months ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Tigran Gambaryan, a Binance executive who had been detained since February, has been officially cleared of all charges by the Nigerian government.

The Economic and Financial Crimes Commission (EFCC) requested the withdrawal of the case at the Federal High Court in Abuja during a court session on October 23, 2024.

This announcement was made during the session. Gambaryan, the chief of financial crime compliance at Binance and a US citizen, was previously accused of money laundering and currency manipulation. However, these accusations have been dismissed.

BREAKING: Nigerian Government Drops All Money Laundering Charges Against Binance Executive Gambaryan | Sahara Reporters https://t.co/K1fNs5KVmo pic.twitter.com/5oJ0YfImpP

— Sahara Reporters (@SaharaReporters) October 23, 2024

Related Reading: Metaplanet Secures 10 Billion Yen For Bitcoin Acquisition In Bold Move

Gambaryan: A Long Ordeal

Gambaryan’s legal difficulties commenced upon his arrival in Nigeria to meet with local officials. He and his colleague Nadeem Anjarwalla were under investigation for allegedly contributing to the volatility of the naira, the currency of Nigeria. Gambaryan endured severe conditions for eight months, while Anjarwalla was able to evade legal custody earlier this year.

Ultimately, demands for his release on diplomatic concerns and humanitarian grounds were prompted by reports that he was suffering from a variety of health issues, such as malaria and complications from a herniated disc.

Gambaryan’s legal counsel, Mark Mordi, concurred with the EFCC’s request, and Justice Emeka Nwite dismissed the charges.

As of today, the market cap of cryptocurrencies stood at $2.24 trillion. Chart: TradingView.com

Mordi underscored that Gambaryan was solely an employee of Binance and did not participate in the company’s overarching financial decisions.

Gambaryan’s release is a significant milestone for both him and Binance, which has been subjected to heightened scrutiny from regulators worldwide in the wake of the court’s ruling.

Released On Health Concerns

Concerns about Gambaryan’s worsening health greatly influenced the decision to stop the proceedings. Dele Oyewale, a Nigerian government spokesman, claimed that Gambaryan’s illness was worsening to the point that outside of Nigeria urgent medical attention was needed.

This humanitarian factor helped the judge dismiss the case. Many wonder what Gambaryan’s departure from Nigeria will mean for Binance and its African activities.

Related Reading: Binance Executive Too Sick For Court, Nigerian Trial Postponed

Binance and Cryptocurrency Regulation Implications

This case has underscored the persistent tensions between regulatory bodies in numerous countries and cryptocurrency exchanges such as Binance. The Nigerian government said that Binance let users send money out of the naira, which made the economy less stable and made it easier for people to hide money.

These allegations came shortly after Binance reached a $4.3 billion settlement with US regulators over similar accusations.

This incident raises concerns regarding the regulation of cryptocurrency platforms in the future, as Nigeria is currently experiencing its most severe economic crisis in decades.

The crypto community has expressed relief at Gambaryan’s release, but it is still concerned about the potential repercussions for exchanges that operate in challenging regulatory environments.

Featured image from Darren Joseph/DL News, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

crypto

South Korea To Confiscate Crypto Cold Wallets If Taxes Aren’t Paid

3 hours ago
Bitcoin

$48 Million Salvation: ‘Bitcoin Jesus’ Roger Ver Settles Tax Fraud Case

7 hours ago
Coinbase & Mastercard Vie to Take Over Stablecoin Firm BVNK – The Best Altcoins to Buy Stand to Benefit

Coinbase & Mastercard Vie to Take Over Stablecoin Firm BVNK – The Best Altcoins to Buy Stand to Benefit

7 hours ago
Gemini

Gemini Makes Its Move Down Under With Australian Exchange Debut

9 hours ago
Ripple’s RLUSD Approaches $1B as XRP Slides – Why $BEST Could Be the Smarter Bet

Ripple’s RLUSD Approaches $1B as XRP Slides – Why $BEST Could Be the Smarter Bet

9 hours ago
Το Zcash (ZEC) εκτοξεύεται με άνοδο 40% και κεφαλαιοποίηση 4 δισ. δολαρίων

Το Zcash (ZEC) εκτοξεύεται με άνοδο 40% και κεφαλαιοποίηση 4 δισ. δολαρίων

10 hours ago

Premium Sponsors

Press Releases

  • BNB

    ChatGPT предвижда BNB да достигне $2,500...

    12 hours ago
  • Maxi Doge นักสู้เหรียญมีมยืนโพสท่าในสังเวียนมวย

    Binance-Peg DOGE นำโด่ง Top 11...

    2 days ago
  • Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s $22M Presale—Plus, Our $HYPER Price Prediction.

    Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s...

    2 days ago
  • ...

    3 days ago
  • Your Chance to Win Up to 10% Deposit Bonus and Up to 21K $USDT Bonus Prizes at KCEX

    Your Chance to Win Up to 10% Deposit Bonus and Up to 21K...

    3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.