A Nigerian court has adjourned the trial of Binance executive Tigran Gambaryan, who remains in detention in the country. The postponement came after Gambaryan, an American citizen and Binance’s head of financial crime compliance, was unable to appear in court due to illness. Gambaryan has been imprisoned since February on charges of laundering over $35 million, allegations that both he and Binance have denied.

The trial delay stems from Gambaryan’s deteriorating health condition while in custody. Judge Emeka Nwite of the Federal High Court Abuja rescheduled the proceedings to October 25 to allow Gambaryan to receive medical treatment. This follows the denial of his second bail application last week, with the court stating that experts are managing his health in prison. Gambaryan had previously expressed concerns about his worsening condition and the need for surgery unavailable in the prison facility.

Binance has taken to social media to advocate for Gambaryan’s release. CEO Richard Teng claimed that Nigerian officials had requested a “secret” payment from the company to resolve the ongoing issues. However, Nigerian authorities have refuted these allegations, characterizing them as attempts to deflect attention from Binance’s operations in the country.

These developments come as Binance faces ongoing regulatory challenges globally. Recently, a U.S. judge approved the SEC’s request to amend its original complaint against the exchange, specifically addressing the use of “crypto asset securities” in the lawsuit.

Despite the legal hurdles, Binance continues to expand its presence in Africa. The exchange recently enabled users in several African countries to purchase cryptocurrency using mobile money through local partnerships. This move demonstrates Binance’s aggressive strategy to strengthen its foothold on the continent, even in the face of regulatory uncertainty.

The situation has taken a personal toll on Gambaryan’s family. His wife, Yuki, reported a significant decline in her husband’s health during his detention, warning of potential permanent damage and loss of mobility. She has been vocal in her efforts to secure his release.

In addition to the charges against Gambaryan, Binance faces separate allegations of tax evasion in Nigeria, which the company strongly denies. The Nigerian government’s crackdown on crypto exchanges suspected of involvement in the black market for foreign currency has led Binance to suspend transactions in naira.

Despite these challenges, Binance maintains a substantial user base in Africa. This widespread adoption has prompted some industry figures, like Scroll co-founder Ye Zhang, to partner with the exchange, even in the face of criticism.

As the legal proceedings continue, the case highlights the complex relationship between cryptocurrency exchanges and regulatory authorities in emerging markets, as well as the personal consequences for executives caught in the crossfire of these disputes.


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