• Binance's CEO denied the Nigerian authorities's allegations towards the alternate.
• Richard Teng criticised Nigeria for failing to indicate consideration to Gambarian regardless of his severe well being situation.
• Teng, a Binance complete The transaction quantity from 2023 is $21 billion.

Binance CEO Richard Teng not too long ago refuted the Nigerian authorities's accusations towards the alternate, with the trial scheduled for September 2, 2024. Teng strongly disagrees with the federal government's declare that Binance had $26 billion in income, arguing that $21.6 billion was its complete buying and selling quantity in 2023.

In an official weblog put up, Teng expressed concern over the deteriorating well being of Binance govt Tigran Ghanbarian, who has been detained by the Nigerian authorities. Teng’s feedback got here forward of the trial of Binance and its executives, Ghanbarian and Nadeem Andjawala, who have been arrested in Abuja on suspicion of misappropriating $26 billion from Binance.

Many individuals, together with political leaders and members of Ganbarian's household, have famous that Ganbarian faces severe well being issues. He’s allegedly being held with out correct medical remedy regardless of a courtroom order requiring him to obtain correct medical help. Reviews state that Ganbarian must bear specialised surgical procedure for a herniated disc in his again.

Highlighting Gambarian's deteriorating well being and the influence of his detention, Teng stated:

“I’m deeply involved in regards to the long-term and doubtlessly irreversible bodily and psychological influence this horrific occasion can have on Tigran, and I once more name on the Nigerian authorities for humanitarian causes to permit him to return to his household so he can obtain applicable medical remedy in the US and get well and return to his former wholesome and lively life.”

He additional refuted the Nigerian authorities's claims, saying they have been “removed from the reality.” He questioned the legitimacy of the authorities in detaining Gambarian and claimed that Binance has already confronted and resolved authorized points in the US, Thailand, India and lots of different international locations. He additional added that these governments haven’t threatened or harmed any of their harmless workers.

Teng sought to disprove the federal government's claims by stating that Nigeria just isn’t a big marketplace for Binance. Nigeria has alleged that Binance is concerned in illicit buying and selling, however Teng reiterated that the platform's income comes from the low buying and selling charges it fees merchants.

Moreover, in response to Nigeria’s claims that Binance is accountable for the naira’s depreciation, Teng cited consultants who stated the decline within the Nigerian forex started with the federal government’s resolution to take away the naira’s peg and had nothing to do with Binance.