Biden calls Nigerian President to release Binance executive, collaborate to establish "Cryptocurrency Enforcement Team"

U.S. 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 figure at Binance, had been detained by Nigerian authorities for over six months and had his charges dropped on 10/23, leading to his release. Biden also emphasized that this incident has led to cooperation plans between the two countries in the regulation of cryptocurrency and illicit funds.

Suspected of Money Laundering and Tax Evasion, Gambaryan Imprisoned for Over Six Months

Binance executive Tigran Gambaryan traveled to Nigeria in February this year to discuss local cryptocurrency regulations but was detained and imprisoned by the authorities on charges of money laundering and tax evasion. During his imprisonment, Gambaryan's health deteriorated continuously, claiming to suffer from a herniated disc, malaria, and pneumonia symptoms. However, Nigerian authorities completely denied these claims, insisting that he was in "good condition." It was reported that the lack of proper medical attention has caused spinal nerve damage, rendering him unable to walk.

US Diplomatic "Efforts" Succeed as Nigerian Authorities Drop Charges

Gambaryan's case also drew attention from the US Congress, with several members exerting pressure and even personally visiting Nigeria. After multiple diplomatic interventions and negotiations, Nigerian authorities finally dropped all charges against him on 10/23, and the next day, Gambaryan boarded a plane 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 Illicit Finance and Cryptocurrency Enforcement Task Force" in collaboration with the Nigerian government to enhance cooperation in cryptocurrency and financial supervision, jointly combating financial crimes. US President Biden also called Nigerian President Tinubu, not only expressing condolences for the recent disaster in northeastern Nigeria but also commending Tinubu's efforts in the Gambaryan incident.