The US government is stepping up its efforts to secure the release of Tigran Gambaryan, a Binance executive who has been imprisoned in Nigeria since February 2024.
According to reports, Gambaryan’s health has deteriorated significantly while in detention, leading US authorities to request his release on humanitarian grounds.
Gambaryan faces major money laundering and tax evasion charges in Nigeria. A visit to Nigeria for meetings on Binance’s operations in February 2024 led to his arrest.
With high-level discussions between U.S. diplomats and Nigerian officials, the crisis has become a focal point in U.S.-Nigerian relations.
Growing diplomatic pressure
US Secretary of State Antony Blinken has been personally involved in the matter and has openly expressed his concerns to his Nigerian counterpart. US officials have held negotiations with many senior Nigerian officials, including the president and the finance minister.
Source: US Congress
They stress the urgency of Gambaryan’s release, who suffers from serious health problems, including a herniated disc and symptoms of malaria. According to his family, he has not received sufficient medical care, which has led to a rapid deterioration of his condition.
The urgency of the situation has increased pressure on U.S. lawmakers. A delegation of U.S. lawmakers visited Gambaryan in prison in June to advocate for his release. His wife, Yuki, has openly expressed her frustration, saying she would be “extremely offended” if the U.S. government hosted Nigerian officials while Gambaryan remains in custody.
Binance CEO’s health deteriorates
Gambaryan, a former US law enforcement officer, reportedly suffers from serious health problems. He also suffers from malaria and is not receiving adequate medical care. Concerns about his deteriorating health were raised during recent court hearings, where he reportedly had to use crutches instead of a wheelchair.
As of today, the market cap of cryptocurrencies stood at $1.99 trillion. Chart: TradingView.com
Binance CEO Richard Teng also demanded Gambaryan’s release, chastising the Nigerian government for imprisoning him based on what he called “baseless allegations.”
Teng warns that this situation sets a dangerous precedent for global businesses, highlighting the potential risks executives may face when operating in foreign markets.
Impact on US-Nigeria Relations
Gambaryan’s detention has so far strained relations between the United States and Nigeria. The two countries have always enjoyed good relations, but this incident has caused serious tensions.
US officials are well aware that Gambaryan’s case may affect future diplomatic relations, particularly with the planned meeting between Nigerian officials who will travel to New York for the United Nations General Assembly.
The situation remains uncertain, with the United States continuing to demand Gambaryan’s release. Health concerns, diplomacy and public outcry could force the Nigerian government to change its position.
Featured image by Olamikan Gbemiga/AP, chart by TradingView
