Former Federal Agents Rally Demand For Release Of Detained Binance Executive In Nigeria, Urge State Secretary Blinken To Step Up Efforts

As many as 108 former federal prosecutors and agents have called upon U.S. Secretary of State Antony Blinken to escalate efforts to free Tigran Gambaryan, the head of compliance at Binance (CRYPTO: BNB), from a Nigerian prison.

What Happened: The public letter was spearheaded by investor and Coinbase board member Katie Haun, a former federal prosecutor, CoinDesk reported Thursday. The group expressed dissatisfaction with the government’s lackluster involvement in Gambaryan’s case, cautioning about potential severe repercussions if more decisive action is not taken.

Earlier this week, 16 members of Congress penned a similar letter to U.S. President Joe Biden, Blinken, and diplomat Roger Carstens, advocating that Gambaryan’s case be regarded as a hostage situation.

Why It Matters: This plea for Gambaryan’s release comes amidst escalating tensions between Binance and the Nigerian government.

In March, Nigerian officials imposed a $10 billion penalty on Binance, accusing it of manipulating exchange rates and contributing to the drastic depreciation of the national currency, the Naira.

Subsequently, high-ranking officials from Binance’s Africa arm, including Gambaryan, were detained. His bail hearings and other court proceedings have been repeatedly postponed due to administrative errors.

Last month, Binance CEO Richard Teng demanded Gambaryan’s release, criticizing the Nigerian government for setting a "dangerous new precedent" by detaining a company’s employee who was visiting the country to address regulatory matters.

Photo by Iryna Budanova on Shutterstock

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