Tigran Gambaryan, a senior executive at the cryptocurrency exchange Binance based in the United States, has had his court case in Nigeria adjourned until April 19. Gambaryan, along with another Binance executive Nadeem Anjarwalla, traveled to Nigeria in February amid allegations that the exchange had manipulated the country’s fiat currency, the naira. Following Binance’s announcement on March 5 that it would cease all naira transactions, Gambaryan and Anjarwalla were detained by Nigerian authorities and are facing charges including tax evasion and money laundering.
While Gambaryan remains in custody, Anjarwalla managed to escape on March 22 and leave the country. In an effort to bring her husband back to the US, Gambaryan’s wife has launched a petition that has garnered over 1,700 signatures. Binance, in a blog post on April 3, stated that Gambaryan had no decision-making power in the company and should not be held accountable for its actions in Nigeria.
Meanwhile, former Binance CEO Changpeng Zhao has pleaded guilty to one felony count as part of a $4.3 billion settlement with authorities and is currently in the US awaiting sentencing on April 30. In the US, proposed crypto regulations are being driven by lawmakers’ fear and doubt.