Binance’s Head of Financial Crime Compliance Departs After High-Profile Nigeria Ordeal

Tigran Gambaryan, Binance’s head of financial crime compliance, is leaving the world’s largest cryptocurrency exchange following an eight-month legal saga in Nigeria that captured global headlines.

Gambaryan, a former US Internal Revenue Service agent, confirmed to Bloomberg News that Friday, June 6, 2025, will be his final day at Binance.

Capture And Tortured In Nigeria

Gambaryan’s tenure took a dramatic turn last year when he was detained by Nigerian authorities on allegations of money laundering and currency manipulation during a business trip to Nigeria on behalf of Binance.

The case drew international attention and sparked debates about the challenges faced by crypto executives operating in jurisdictions with evolving regulatory landscapes.

After his health deteriorated in detention, Gambaryan was released on humanitarian grounds in October 2024. Nigerian authorities subsequently dropped all charges against him.

A Binance spokesperson praised Gambaryan’s contributions, stating,

“Tigran has made a lasting impact on Binance, just as he did in his previous roles in law enforcement. We are deeply grateful for his dedication in transforming our financial crimes compliance organization. Thanks to his tireless efforts, the crypto industry is safer for all.”

Before joining Binance in 2021, Gambaryan earned the nickname “Crypto Wizard” for his expertise in tracing illicit blockchain transactions for the US government.

At Binance, he built a 100-person global investigations team composed of former prosecutors and federal agents, and oversaw the company’s response to thousands of law enforcement requests.

His work focused on strengthening Binance’s anti-money laundering protocols and assisting authorities worldwide with asset seizures as regulatory scrutiny of major exchanges intensified.

The Controversy Behind Gambaryan's Release

The episode marked a tense chapter for Binance’s global operations. Shortly after his release, Gambaryan alleged that Nigerian lawmakers had demanded a $150 million bribe for his freedom—a claim the Nigerian government denied.

Binance CEO Richard Teng previously made similar allegations in a blog post, asserting that officials had sought a “secret” payment to resolve the case.

Nigerian authorities strongly refuted these claims, maintaining that the investigation was conducted in accordance with the law.

Gambaryan’s departure comes as Binance moves closer to resolving its legal issues in the United States. Last week, the US Securities and Exchange Commission (SEC) filed a joint motion with Binance to stay its case in federal court.

The SEC had sued Binance in June 2023, accusing the exchange and co-founder Changpeng Zhao (CZ) of mishandling customer funds and violating securities laws.

Binance and Zhao pleaded guilty to separate charges in November 2023, agreeing to pay $4.3 billion in penalties. Zhao was fined $50 million, stepped down as CEO, and served four months in US prison.

In May, CZ confirmed that he had formally applied for a presidential pardon, weeks after initially denying reports of such a move.

Speaking on the Farokh Radio podcast, Zhao revealed that his legal team filed the request following widespread media speculation.

“If they’re writing this article, I may as well just officially apply.”

The former crypto mogul, who pleaded guilty to violating the Bank Secrecy Act, has since shifted his focus to international advisory work, offering guidance on crypto regulation and blockchain integration to governments in Pakistan and Kyrgyzstan.

A New Chapter for Binance

As Tigran Gambaryan prepares to depart, his legacy at Binance is one of transformation and resilience.

His efforts have set a new standard for compliance and enforcement in the crypto industry, even as exchanges continue to navigate complex regulatory environments.

With Binance’s legal battles winding down and new leadership at the helm, the company now faces the challenge of rebuilding trust and charting a course for the future in an ever-evolving digital asset landscape.