Nigerian officials proposed secret crypto settlement, claims Binance CEO

Binance CEO Richard Teng says the Nigerian government has set a dangerous precedent after inviting company executives to meetings before detaining them.

New details have emerged suggesting Nigerian officials tried to coerce Binance representatives into a secret settlement paid in cryptocurrency during meetings in early 2024.

Binance CEO Richard Teng issued a detailed account of Tigran Gambaryan’s ongoing detention on May7. Gambaryan is a former United States Internal Revenue Service agent who headed up Binance’s financial crime compliance team.

Teng condemned the Nigerian government for its actions, claiming the country has “set a dangerous new precedent for all companies worldwide” after detaining two of its employees.

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