Binance Executives Detained: Urgent Plea For Biden’s Intervention

The Biden administration is under significant pressure to help secure the release of Tigran Gambaryan, a Binance executive and former U.S. federal agent, along with another Binance executive, Nadeem Anjarwalla. The Nigerian government has detained both individuals without their passports since Feb 26, 2024.

The U.S. Chamber of Digital Commerce has been vocal in calling for action through a blog post on Mar 15. The Chamber expressed concerns and advocated for swift diplomatic measures, considering the detentions a grave injustice.

“The unwarranted detention of Tigran Gambaryan is more than a legal issue; it is a matter of national dignity and the protection of American citizens worldwide,” the Chamber emphasized, highlighting the gravity of the situation.

The Chamber views Gambaryan’s detention under dubious conditions as a precedent threatening American entrepreneurs’ safety and legal security abroad, particularly in the cryptocurrency sector.

Nigeria, which receives over $1 billion in U.S. foreign aid annually and is considered an ally of the United States, has yet to provide a clear rationale for the detentions. The issue came to light in late Feb when the Financial Times reported on the situation without naming the detained executives.

Binance Execs Held In Nigeria Amid Dispute

Gambaryan and Anjarwalla, the latter holding dual citizenship in the United Kingdom and Kenya, travelled to Abuja on Feb 25 upon an invitation from the Nigerian government. Their visit aimed to discuss a dispute involving Binance’s alleged illegal operations in the country.

During their discussions with Nigerian officials on Feb 26, the executives addressed the government’s request that telecom providers block access to Binance and other crypto exchanges due to claims to facilitate illegal fund flows and contribute to the naira’s devaluation. After the meeting, officials took them to their hotels and instructed them to pack up.

According to their families, Nigeria’s National Security Agency subsequently moved them to a “guesthouse” This incident occurred before Binance announced its withdrawal from Nigeria on Mar 5.

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Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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