Tigran Gambaryan exits Binance after four years, including eight months detained in Nigeria, cleared of charges, to focus on recovery.
Tigran Gambaryan, an executive at Binance, is departing the exchange following an eight-month detention in Nigeria on suspicion of money laundering. Gambaryan’s departure from Binance concludes a tumultuous chapter for him and the company, as he has been acquitted of all charges.
- 1 Tigran Gambaryan, the executive of Binance, has resigned
- 2 “[CZ] was committed to bringing in experienced leadership to help the company engage more constructively with law enforcement. His support for our mission never wavered, and I’ll always be grateful for the trust he placed in me and the team.”
- 3 What transpired with Tigran Gambryan?
Tigran Gambaryan, the executive of Binance, has resigned
Tigran Gambryan announced his departure from Binance in an X post earlier today. He stated, “Today is my final day at Binance, and it signifies the conclusion of a chapter in which I am immensely proud.”
In a moving departure, Gambaryan reflected on his four-year tenure at Binance, during which he established and oversaw the company’s global investigations function. He expressed his admiration for Changpeng Zhao, the founder, for his dedication to establishing a more robust compliance framework. He observed,
“[CZ] was committed to bringing in experienced leadership to help the company engage more constructively with law enforcement. His support for our mission never wavered, and I’ll always be grateful for the trust he placed in me and the team.”
Additionally, he emphasized the team’s significant accomplishments during his tenure. It is important to note that the team provided critical support in cases involving financial offenses and processed over 57,000 law enforcement requests. Additionally, he has directed the instruction of thousands of officials on a global scale. He cited instances such as assisting the Royal Thai Police to illustrate his point.
The team assisted them in the successful dismantling of a substantial $270 million crypto fraud scheme directed at citizens of the United States and Thailand. Additionally, he emphasized the partnership with Nigeria’s EFCC to recover more than $400,000 in illicit funds and offer advanced training to their agents.
His departure is particularly noteworthy in light of Coinbase’s most recent data breach. The incident revealed the confidential information of prominent figures, including Roelof Botha, the Managing Partner of Sequoia Capital.
What transpired with Tigran Gambryan?
Tigran Gambaryan was the Head of Financial Crime Compliance at Binance for four years. Gambryan and another Binance executive were apprehended in Nigeria during a business excursion on suspicion of money laundering.
Gambaryan’s health was reportedly impacted by the severe conditions he encountered during his nearly eight-month detention. Despite Gambaryan’s malaria and pneumonia, it is reported that he did not receive adequate medical care. Gambaryan was additionally subjected to “inhumane treatment” by Nigerian authorities during a court hearing on September 2, 2024, as demonstrated by a video. Nevertheless, Gambaryan was ultimately released and acquitted of all charges in October 2024 due to the persistent requests of his family and influential figures.
It is important to note that the Nigerian government filed a lawsuit against Binance in response to a lawsuit filed by the US Securities and Exchange Commission. The SEC recently dismissed its litigation against the exchange even though Nigeria is still pursuing the case.
