Family

United

After six months in <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/binance-bail-nigeria-money-laundering-trial" rel="" target="_self" text="null">detention in Nigeria for alleged financial crimes</a> totaling $34 million, concerns have been raised by the family of Binance executive Tigran Gambaryan about his worsening health.
Nigerian authorities imprisoned Gambaryan for his alleged involvement in money laundering, currency speculation and tax evasion while working for crypto exchange Binance.&nbsp;
However, according to information provided by Gambaryan’s family, the Binance executive’s health continues to worsen due to prolonged medical negligence. Their statement said:
<blockquote>
 “He is no longer able to walk from the pain of his untreated herniated disc or spinal injury. The prison is also refusing to provide him with a wheelchair.”
</blockquote>
<h2 id="growing-medical-complications-of-binance-executive">Growing medical complications of Binance executive</h2>
As a result of immobility, Gambaryan is required to take blood thinners to avoid blood clots. The family further alleges that the Nigerian authorities did not allow his legal team to visit for 20 days, from July 26 to Aug. 14. Such restrictions are “against the Nigerian constitution and the governing laws of the prison in which he is being held,” the family claimed.&nbsp;
Authorities later allowed a five-minute visit to Gambaryan’s legal team to prepare for trial before denying entry again. Additionally, the family claims that a lack of a wheelchair prevents Gambaryan from visiting the United States embassy for any support.&nbsp;
According to the family, Gambaryan suffers from severe tonsillitis due to prolonged untreated malaria and pneumonia and has been advised to surgically remove the tonsils.&nbsp;
Before detention, the Nigerian government initially invited the Binance executive to a meeting. There, he was forced to surrender his passport and moved to a “guest house.” While in confinement, the government charged him with several financial crimes related to Binance.&nbsp;
The family also mentioned that consistent refusal to share Gambaryan’s medical records with his legal team and the American embassy resulted in the issuance of “ a bench warrant for the arrest of the Nigerian prison doctor.”
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/nigerian-crypto-experts-advocate-compliance-focused-regulation" rel="null" target="null" text="null">Stakeholders urge Nigeria to adopt compliance-focused crypto regulation</a>
Check out Cointelegraph’s complete <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/binance-gambaryan-legal-case-nigeria" rel="" target="_self" text="null">timeline on Binance and Nigeria’s legal battle</a>.
<h2 id="planning-for-crypto-exchange-licensing">Planning for crypto exchange licensing</h2>
Amid this legal battle, Nigeria’s Securities and Exchange Commission <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/nigerian-sec-license-crypto-platforms-market-growth" rel="" target="_self" text="null">plans to issue licenses to cryptocurrency exchanges</a>.
In a recent <a data-ct-non-breakable="null" href="https://www.bloomberg.com/news/articles/2024-08-20/nigeria-s-sec-to-licence-crypto-exchanges-as-adoption-surges" rel="nofollow noopener" target="_blank" text="null">interview</a> with Bloomberg, SEC Director-General Emomotimi Agama said, “Being a crypto enthusiast and fintech enthusiast, I can tell you without doubt that this is going to happen sooner than you think.”
Over the past few years, Nigeria has emerged as one of the fastest-growing crypto economies.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/algorithm-choice-can-fix-social-media-but-only-on-decentralized-platforms/" rel="null" target="null" text="null">Dorsey’s ‘marketplace of algorithms’ could fix social media… so why hasn’t it?</a>

Concerns grow over Binance executive’s health during detention in Nigeria

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Cointelegraph

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