Mar 12, 2024

Binance Executives Arrested in Nigerian Capital Despite Company’s Exit

Binance executives detained in Nigerian capital despite country exit.
Binance execs detained in Nigerian capital despite country exit

Two Binance Executives Reportedly Detained in Nigeria Despite Company’s Exit Announcement

Despite Binance’s recent announcement of its withdrawal from Nigeria, two high-ranking executives from the company are reportedly still being held in Abuja, the country’s capital.

According to a report from Wired on March 12, Tigran Gambaryan, a former US federal agent specializing in cryptocurrency, and Nadeem Anjarwalla, Binance’s regional manager for Africa based in Kenya, have been detained without passports at a government property since February 26, 2024.

The families of Gambaryan and Anjarwalla have stated that Nigerian prosecutors have not provided any information on potential criminal charges against the two executives.

It is unclear what led to their detainment, but it is speculated that it may be related to their roles in Binance’s criminal investigations and operations in Africa.

Despite the ongoing situation, Binance has not made any official statements or comments on the matter.

Meanwhile, the cryptocurrency market continues to see new developments, with the emergence of tokens such as ZIL, XCN, WAX, and WLUNA, and the growing popularity of Web 3.0, which aims to revolutionize the internet through decentralized technologies.

Additionally, the recent Tesla AI Day has sparked interest in the potential of artificial intelligence and its intersection with cryptocurrency and blockchain technology.

As the industry continues to evolve and expand, the rise of platforms like Aave and the increasing adoption of Web 3.0, it is clear that the world of crypto and blockchain is here to stay.

Stay updated on the latest news and developments in the crypto world through the Crypto Press Cryptocurrencies Network, where you can find all the latest updates and insights on the ever-changing landscape of cryptocurrency.

Gambaryan and Anjarwalla Still Detained in Nigeria, Binance Confirms

According to Yuki Gambaryan, wife of Binance executive Gambaryan, there is no definite answer on his current status, potential release, or return date.

Cointelegraph has received confirmation from a Binance spokesperson that both Gambaryan and Anjarwalla remain detained in Nigeria as of March 12.

The Binance representative emphasized the integrity of the executives and expressed confidence in a swift resolution to the situation.

Initial reports of the arrests surfaced in late February, with the Financial Times reporting on the detentions without naming the individuals on February 28.

The Arrest of Crypto Executives in Nigeria Amidst Dispute with Binance

On February 25th, Gambaryan, a US citizen, and Anjarwalla, a dual citizen of the UK and Kenya, arrived in Abuja to address the ongoing dispute between the Nigerian government and Binance, a cryptocurrency exchange. However, instead of finding a resolution, the executives were taken to a guesthouse run by Nigeria’s National Security Agency and have since been held against their will. Their passports were seized and they have been prevented from speaking privately during visits from US and UK representatives.

The dispute arose after the Nigerian government ordered the country’s telecoms to block access to Binance and other crypto exchanges, citing concerns over the devaluation of the naira and illicit flows of funds. The meeting between the executives and Nigerian officials did not result in a resolution, leading to their arrest.

The incident has raised questions about the role of crypto in the global economy, with keywords such as “zil crypto”, “xcn crypto”, and “wax crypto” being widely discussed. It also brings attention to the concept of web 3.0 and its impact on industries such as AI, as seen in the recent “Tesla AI Day”. Other keywords related to this topic include “aave crypto”, “when did web 3.0 start”, and “web 3.0 crypto tokens list”.

This situation highlights the need for further discussions and regulations surrounding the use of cryptocurrency, as it continues to gain traction and disrupt traditional financial systems.

The arrests of Gambaryan and Anjarwalla came just days before Binance officially announced its complete withdrawal from Nigeria on March 5. The company’s exit roadmap included suspending naira withdrawals on March 8 and removing all trading pairs involving the naira on March 7. In late February, the platform also disabled peer-to-peer trading with the naira.

Some of the popular cryptocurrencies in the market include zil crypto, xcn crypto, wax crypto, and wluna crypto. These digital assets are part of the growing list of web 3.0 crypto tokens, which are gaining traction in the market. Web 3.0, also known as the decentralized web, is the next generation of the internet that aims to create a more secure and transparent online environment.

Tesla’s AI Day, which took place on August 19, was highly anticipated by the crypto community. The event discussed the company’s advancements in artificial intelligence and how it could potentially impact the future of technology. Aave crypto, one of the leading decentralized finance (DeFi) projects, was also mentioned during the event.

Web 3.0, also known as the decentralized web, has been in development for several years. However, it wasn’t until recently that it started gaining mainstream attention. With its promise of a more decentralized and secure internet, web 3.0 has the potential to revolutionize the way we interact online.

The crypto market has been gaining momentum in recent years, with over 10,000 new coins and tokens being introduced. This surge in popularity has led to the emergence of various crypto press networks, such as the Crypto Press Cryptocurrencies Network, which aims to provide the latest news and updates on the world of cryptocurrency.

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