U.S. Chamber Urges Biden To Secure Release Of Binance Officials Detained In Nigeria

The United States Chamber of Digital Commerce has issued a plea to President Biden, urging him to utilize all available diplomatic avenues to secure the release of two Binance officials currently detained by Nigerian authorities.

Describing the detention as a “distressing breach of international law,” the Chamber emphasized the urgent need for diplomatic intervention.

Grave Unfairness Highlighted Against Binance

Expressing deep concern over the situation, the Chamber denounced Nigeria’s actions as tantamount to “state-sponsored kidnap.”

The detention of Tigran Gambaryan, a U.S. citizen and head of Binance’s criminal investigations team, was cited as setting a dangerous precedent for American businesspeople abroad, especially those operating in the cryptocurrency sector.

Group Accuse Nigerian Government Of Fine Allegations of Coercion On Binance

The group alleged that the detention of the officials is a tactic aimed at pressuring Binance into paying a hefty fine of $10 billion, likening it to a ransom demand. They emphasized the need for immediate action to address what they perceived as a severe injustice.

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In a statement, the Chamber said, “In a distressing breach of international law, U.S. citizen Tigran Gambaryan has been unjustly detained by the Nigerian government. This incident demands a robust response from the United States.”

The Chamber called upon President Biden and the U.S. government to intervene decisively to secure Gambaryan’s release. They emphasized that the detention goes beyond mere legal matters, stressing its implications for national dignity and the protection of American citizens worldwide.

“We stand in solidarity with Mr. Gambaryan and his family during this trying time and urge swift action to rectify this grave injustice,” the Chamber stated.

The detention of the Binance executives comes on the heels of accusations by Nigerian authorities of foreign exchange trading malpractices and speculation.

Binance, a leading cryptocurrency trading platform, has been embroiled in a dispute with Nigerian law enforcement and financial regulators over alleged illegal money transfers and manipulation of the naira’s valuation.

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The U.S. Chamber’s call for diplomatic action underscores the seriousness of the situation and the need for prompt intervention to safeguard the rights of American citizens abroad.

As the diplomatic efforts unfold, the fate of the detained Binance officials hangs in the balance, awaiting resolution.

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