Cryptocurrency Executive Pleads Not Guilty to Money Laundering Charges in Nigeria Amid Binance Dispute

Tigran Gambaryan, an executive from cryptocurrency firm Binance, has pleaded not guilty to money laundering charges in a Nigerian court after being detained since February, alongside his colleague Nadeem Anjarwalla. While Gambaryan rejected the five counts of money laundering filed against him by Nigeria's Economic and Financial Crimes Commission (EFCC), Anjarwalla escaped custody two weeks prior, and his whereabouts remain unknown. Binance, one of Nigeria's most popular cryptocurrency platforms, has been accused by the government of currency speculation and fixing exchange rates, allegedly leading to the devaluation of the local currency, the naira. Alongside money laundering charges, Binance and the executives also face accusations of tax evasion by the Federal Inland Revenue Service (FIRS). The situation underscores Nigeria's broader crackdown on cryptocurrency platforms, citing concerns over money laundering and terrorism financing. Additionally, Nigerian authorities are working with Interpol to secure an international arrest warrant for Anjarwalla following his escape.