A few hours ago, Binance CEO Richard Teng reacted for the first time to the recent release of exchange executive Tigran Gambaryan. As CriptoTendencia reported this Wednesday, Nigerian authorities released Gambaryan after spending just under 8 months in prison.
The African country’s prosecutor’s office determined that Gambaryan did not hold a decision-making position at Binance, which was crucial for the charges of money laundering and conspiracy against the local currency, the naira, to be dropped. Additionally, he was allowed to return to the United States for medical care.
Teng expressed his gratitude for his colleague’s release on his X account. He was also optimistic about the future of the crypto market in Africa, including Nigeria. “We are deeply relieved and grateful that Tigran Gambaryan has finally been released after almost eight months of detention in Nigeria,” Teng wrote.
The CEO stressed that Gambaryan’s health is now the priority for Binance and praised his resilience in the face of adversity. Teng also thanked all the people and organizations that contributed to his release, acknowledging that this was the result of international pressure rather than a friendly gesture on the part of Nigeria.
We are deeply relieved and grateful that Tigran Gambaryan has finally been released after enduring nearly eight months of detention in Nigeria. Throughout this difficult period, Tigran has shown immense strength, and we commend his resilience in the face of such severe adversity.…
— Richard Teng (@_RichardTeng) October 24, 2024
Binance ready to collaborate with global regulators
Since Binance pleaded guilty to multiple charges in the United States and reached a cooperation agreement with authorities, the company has taken a new direction. Under Richard Teng, Binance appears to be entering a new phase that seeks to distance itself from its previous reputation as a maverick in the crypto space.
Now, Binance is moving quickly to establish relationships with regulators globally, with the aim of avoiding future legal problems. In his post about Gambaryan’s release, Teng also discussed these developments.
Binance remains committed to collaborating with global regulators to ensure compliance and transparency in the evolving digital asset space. We look forward to putting this episode behind us and continuing to work towards a brighter future for the Blockchain industry around the world.
Richard Teng, CEO of Binance
Teng highlighted the enormous potential of the African continent for the growth of cryptocurrencies. He noted that the countries in the region have a young and technologically advanced population. “Nigeria is well positioned to leverage blockchain technology to address economic and social challenges. We hope to play a constructive role in that process,” he concluded.
Other senior figures also reacted to Gambaryan’s release. US National Security Advisor Jake Sullivan confirmed the news and expressed gratitude to the Nigerian authorities for the decision.
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