Nigerian Court Denies Bail for Binance Executive
On October 11, 2024, a Nigerian court made the controversial decision to deny bail for Tigran Gambaryan, an executive at Binance. This ruling has provoked a swift and strong reaction from the leading cryptocurrency exchange, which expressed “deep disappointment” following the court’s verdict. Gambaryan has now been detained for over 220 days, and Binance is actively disputing the legitimacy of the charges against him.
Binance Voices Discontent Over Detention
In an official statement shared with Cryptonews, a spokesperson for Binance stated, “We are deeply disappointed by the court’s decision to deny Tigran bail, particularly given his deteriorating health. He has been unlawfully detained for over 220 days.” The spokesperson pointed out that Gambaryan visited Nigeria not as a decision-maker and emphasized that there is no justifiable reason for his continued imprisonment. They reiterated Binance’s commitment to collaborating with the Nigerian government to resolve the ongoing issues, while urging that Gambaryan should be allowed to return home to receive proper medical care.
Health Concerns Escalate for Gambaryan
Throughout his detention, Tigran Gambaryan has faced numerous severe health complications, including malaria and double pneumonia. Disturbing footage from a court hearing in September 2024 revealed Gambaryan limping and visibly in pain, suffering from a herniated disc, and reportedly denied access to a wheelchair. In a heart-wrenching moment captured on video, Gambaryan expressed his anguish, stating, “I’m not okay,” and questioned, “Why couldn’t I use a goddamn wheelchair? This is a show. I’m innocent—why are you doing this to me?” His deteriorating condition has raised alarm over the humanitarian issues surrounding his prolonged detention.
Humanitarian Concerns and Calls for Release
Binance CEO Richard Teng expressed deep concern for Gambaryan’s well-being, highlighting the potential irreversible effects on both his physical and mental health. Teng made a heartfelt appeal for the Nigerian government to allow Gambaryan to return to his family for humanitarian reasons, so he could pursue the necessary medical treatment in the United States and regain his health.
Ambiguity Surrounding the Charges
The nature of the charges against Gambaryan remains vague, with prominent figures questioning their validity. Richard Weber, a former IRS special agent, addressed the issue on the “Illicit Edge” podcast, stating, “He’s been in prison for over 200 days – almost eight months – and no one knows what he really did wrong. I don’t even think the Nigerian government knows what he did wrong, and yet they are holding him there.” As calls for his release intensify, Binance and various international advocates continue to push for Gambaryan’s freedom and justice.