Updated on:12/20/2025 05:03 PM 
In a landmark development for the global cryptocurrency sector, Nigerian authorities have completely dismissed all charges against Tigran Gambaryan, a senior executive at prominent crypto exchange Binance, bringing an end to his eight-month detention that commenced in February 2024.
The Nigerian Economic and Financial Crimes Commission (EFCC) officially withdrew the case during proceedings at the Federal High Court in Abuja on October 23. Legal representatives clarified that the American citizen was merely an employee of Binance and should not be held accountable for corporate decisions that precipitated the legal proceedings.
"Mr. Gambaryan had no involvement in Binance's strategic financial operations," emphasized Mark Mordi, lead defense attorney, who aligned with the EFCC's stance throughout the extended legal battle.
Justice Emeka Nwite of the Federal High Court sanctioned the dismissal of the government's case, conclusively terminating Gambaryan's prolonged legal entanglement in Nigeria.
Significantly, this resolution occurred just one week after the Nigerian court denied Gambaryan's second request for bail, creating a dramatic reversal in this closely monitored international case.
As of publication time, Binance representatives had not provided an official response to CryptoSlate's inquiry concerning the case dismissal.
The controversy originated in February 2024 when Gambaryan, alongside colleague Nadeem Anjarwalla, was immediately detained upon arrival in Nigeria. The executives had traveled to engage with government officials concerning allegations that Binance's activities were exacerbating volatility in Nigeria's foreign exchange market.
While Anjarwalla successfully departed from earlier this year, Gambaryan remained incarcerated despite escalating international advocacy. The situation intensified when a coalition of 18 US state attorneys general petitioned President Joe Biden and Secretary of State Antony Blinken to formally recognize Gambaryan as wrongfully detained, suggesting he was being used as leverage against Binance.
The extended confinement generated substantial concern within the worldwide cryptocurrency community, especially as Gambaryan's medical condition worsened during his imprisonment. Medical documentation indicated he battled multiple ailments including malaria, pneumonia, tonsillitis, and a herniated disc requiring wheelchair assistance.
The charge dismissal marks a substantial triumph for Gambaryan and Binance, which has encountered mounting regulatory examination across global markets. This case underscores the escalating friction between cryptocurrency exchanges and regulatory bodies in developing economies as digital assets achieve broader acceptance.
