Binance Finds Itself in a Peculiar Situation
Binance, one of the world’s largest cryptocurrency exchanges, is currently facing some strange circumstances – most notably, two of its executives have been detained by a national government for over a month. Adding to the intrigue, one of the executives managed to escape custody.
This series of events has put Binance in the spotlight, as governments in different countries have taken action against the exchange. In Russia, what was once Binance’s platform, CommEx, has announced its closure in the country. The Philippines’ Securities and Exchange Commission has also issued an order blocking Binance, citing concerns over the security of investors’ funds.
However, it is Nigeria that has seen the most unusual developments. One month ago, two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, were detained by Nigerian authorities without any public charges being announced. Gambaryan, a former investigator for the U.S. Internal Revenue Service, heads the financial crimes enforcement compliance at Binance. Anjarwalla, a dual citizen of the U.K. and Kenya, managed to escape under peculiar circumstances, while Gambaryan remains in custody.
The situation has attracted the attention of the U.S. and U.K. governments, with both confirming their awareness of the detentions. A U.S. State Department spokesperson stated that they were aware of the detention of a U.S. citizen in Nigeria, while the U.K.’s Foreign, Commonwealth & Development Office expressed their support for a British man detained in the country.
While the Nigerian government initially did not charge the detained executives with any crimes, they recently accused Binance, Gambaryan, and Anjarwalla of tax evasion. This came four weeks after confiscating their passports and placing them under house arrest. It is worth noting that the U.S. State Department mentioned that they provide appropriate assistance when a U.S. citizen is detained overseas.
The spouses of Gambaryan and Anjarwalla have stated that they are not yet aware of any specific actions taken by the governments involved. However, they have received information from their families, indicating that communication has taken place between the executives and the respective authorities.
Overall, the situation surrounding Binance is undoubtedly peculiar and highlights the ongoing tension between governments and the cryptocurrency industry.