Binance’s Head of Financial Crime Compliance, Tigran Gambaryan, will remain detained in Nigeria following a judge's decision to deny him bail despite his deteriorating health. Gambaryan, a former U.S. Internal Revenue Service (IRS) agent with expertise in digital currency compliance, was arrested in February on charges of money laundering and operating an unlicensed financial institution. He was reportedly in Nigeria to meet with officials about Binance's regulatory strategy when he was taken into custody, while a colleague managed to evade detention.

The Nigerian court’s decision was influenced by claims that Kuje Prison could provide adequate medical treatment, countering Gambaryan's legal team's arguments for his release due to urgent health concerns, including complications from a herniated disc and illnesses contracted in prison. Justice Emeka Nwite emphasized that a detainee’s health issues alone were insufficient grounds for release, provided the facility could offer adequate care. Gambaryan’s legal counsel and his wife, Yuki Gambaryan, however, argued that his health had worsened considerably, stressing the need for external medical intervention.

Binance has expressed disappointment over the ruling, asserting Gambaryan’s innocence and denying any responsibility for Nigeria's currency devaluation—an accusation reportedly directed at the company by Nigerian authorities. Binance CEO Richard Teng labeled the accusations as unsubstantiated and condemned Gambaryan’s treatment as inhumane. Gambaryan's case has drawn international attention, with his wife advocating for more intervention from U.S. officials to secure his release and protect his well-being.