Tigran Gambaryan, the Binance executive held for months by Nigerian officials before his release in October 2024, announced his formal resignation from the company on June 6.
The former Binance executive said he would remain in the crypto industry and highlighted his work aiding law enforcement investigations worldwide in a June 6 X post. Gambaryan added:
“As digital assets increasingly converge with traditional finance and national security, there is a growing need for trusted, experienced operators, people who understand how to translate between technology, enforcement, and compliance.”
“That is where I intend to continue making a difference, whether back in public service or with a mission-driven institution in the private sector,” Gambaryan said.
Gambarayn was detained for eight months before being released and leaving Nigeria in October 2024, following a pressure campaign from Binance executives, human rights groups, the crypto community, and US lawmakers advocating for his release, while accusing the Nigerian government of unlawfully detaining the executive.
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Binance executives detained in Nigeria: A timeline of events
Gambaryan and fellow Binance executive Nadeem Anjarwalla were detained by Nigerian law enforcement in February 2024 after flying to the capital city of Abuja for a meeting with government regulators.
Both executives were charged with money laundering and tax evasion in connection with the Nigerian government’s separate case against Binance.
In response to the litigation and criminal cases, Binance halted all Naira transactions in March 2024, including deposits and withdrawals in the local currency.
Anjarwalla reportedly escaped Nigeria and fled to Kenya that same month, while Gambaryan remained in custody and pleaded not guilty to the charges in April 2024.
During the trial, Gambaryan repeatedly stressed that he could not be held responsible for Binance because he lacked the executive authority to make decisions for the company.
He reportedly suffered from several untreated medical conditions that deteriorated his health while in custody, including malaria and a herniated disc, which worsened due to the conditions of the prison he was held in and attracted international condemnation.
Nigeria’s Federal Inland Revenue Service (FIRS) dropped the tax charges against both Binance executives in June 2024, and the Economic and Financial Crimes Commission (EFCC) dropped the remaining money laundering charges against Gambaryan in October 2024, shortly before his release and departure from the West African country.
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