Biden Calls Nigerian President to Release Binance Executive and Establish Cryptocurrency Enforcement Task Force
US President Biden recently called Nigerian President Bola Tinubu to thank him for his assistance in the release of Binance executive Tigran Gambaryan. Gambaryan, a senior official at Binance, was detained by Nigerian authorities for over half a year and had his charges dropped on 10/23. Biden emphasized that this incident has also led to a cooperation plan between the two sides in cryptocurrency and illegal fund control.
Accused of money laundering and tax evasion, Gambaryan was imprisoned for over half a year
Binance executive Tigran Gambaryan traveled to Nigeria in February this year to discuss local cryptocurrency regulation issues, but was detained by authorities on charges of money laundering and tax evasion. However, during his imprisonment, Gambaryan’s health deteriorated continuously, claiming to suffer from herniated discs, malaria, and pneumonia symptoms. Nigerian authorities completely denied these claims, emphasizing that he was in “good condition.” It was reported that the lack of proper medical care has caused damage to his spinal nerves, rendering him unable to walk.
US diplomatic “efforts” pay off as Nigerian authorities drop charges
Gambaryan’s case also drew attention from the US Congress, with several members of Congress joining forces to pressure and even personally visit Nigeria. After numerous diplomatic efforts and negotiations, Nigerian authorities finally dropped all charges against him on 10/23, and the next day Gambaryan boarded a flight back to the US, ending his long period of imprisonment.
Biden calls to thank Nigerian President, jointly establish cryptocurrency enforcement task force
On the same day Gambaryan was released, the US State Department announced the establishment of a “bilateral task force on combating illegal funds and cryptocurrencies” in collaboration with the Nigerian government to enhance cooperation in cryptocurrency and fund regulation, working together to combat financial crimes. President Biden also called Nigerian President Tinubu to not only express condolences for the recent disaster in northeastern Nigeria but also commend Tinubu for his efforts in the Gambaryan incident.
