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Teng voiced concerns about the long-term physical and mental effects of Tigran Gambaryan’s continued detention, warning that the situation could cause irreversible harm.
Binance, the world’s largest cryptocurrency exchange, is urgently calling for the United States government and international organizations to intervene and secure the release of Tigran Gambaryan, a former US federal agent, who has been detained in Nigeria for the past six months.
The company’s CEO Richard Teng announced the plea on Tuesday, expressing grave concerns about Tigran Gambaryan ’s rapidly deteriorating health. He revealed that despite being in severe physical pain and unable to walk, Tigran has been denied medical care and legal representation by the Nigerian authorities.
Authorities Denied Tigran Gambaryan Access to US Consular
The Binance boss disclosed that Gambaryan’s detention conditions are unconstitutional, even in Nigeria, and a court has ordered the government to provide medical records to assess his health.
However, the authorities have failed to comply with this court order. In addition, Tigran was denied access to US consular support last week, which is a right guaranteed under international law.
Despite numerous pleas from Binance and others, the Nigerian government continues to detain Tigran without providing any concrete reasons.
The country’s authorities justify his detention by linking him to Binance and its alleged role in the country’s economic issues, including the devaluation of its national currency, the Nigerian naira.
Binance Refute Allegations of Wrongdoing
The exchange, however, refuted the allegation, calling it baseless and unfounded. Teng explained that during Binance’s operations in Nigeria, the Naira traded between 380 and 440 against the US dollar from 2021 to the end of 2022.
In 2023, the price skyrocketed to 900 and has continued to rise since then. Later this year in February Binance shutdown its Peer-2-Peer (P2P) business in compliance with government orders. However, this did not stop the currency decline. In fact, Naira’s decline worsened, trading as high as 1,660 to the dollar by July 2024, suggesting that Binance’s operations had no bearing on the currency’s decline.
Another reason cited by the Nigerian prospectors for keeping the former US federal agent in prison is that “Binance is operating virtually”. The Binance boss said the statement was made during the bail application hearing where the Nigerian prosecutor advocated that Gambaryan should not be given bail as he is a flight risk.
Authorities in the West African nation have also alleged that Binance generated $26 billion in revenue from Nigeria in 2023, but Teng clarified that this figure represents transaction volume from crypto traders, not actual revenue.
A Call for Help
In line with these developments, Binance is now urging the US government and global organizations to apply political pressure on Nigeria to release Tigran so he could get adequate medical treatment in his home country.
“Tigran is a proud American who should not be subjected to such unjust treatment. It is my sincere hope that the American government will exert its political will to bring Tigran home soon so he can get the medical treatment he needs and reunite with his family,” said Teng.
He believes that the US administration and legislators have the power to designate Tigran as an “unlawfully detained” citizen, in order to secure his release, adding that there is enough evidence to backup the claim.
Binance Boss Concerned about Gambaryan’s Wellbeing
Teng voiced concerns about the long-term physical and mental effects of Tigran Gambaryan’s continued detention, warning that the situation could cause irreversible harm.
He appealed to NGOs and humanitarian organizations worldwide to join in the call for Gambaryan’s release on compassionate grounds.
“I am deeply concerned about the long-term impact this horrific situation is having on Tigran, both physically and mentally. I urge the Nigerian government to allow him to return home to receive proper medical treatment, recover, and resume the healthy life he once had,”said Teng.
He further noted that Binance has ran into regulatory troubles in countries like the US, Thailand, India and Brazil and none of its employees were detained or held responsible for the company’s operations.
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Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
