Tigran Gambaryan, the former chief compliance officer for financial crimes at Binance, the world’s largest cryptocurrency exchange, is bidding farewell to his role. Last year, Gambaryan faced an ordeal in Nigeria where he was detained for approximately eight months. His release in October came as a relief after his health deteriorated during his time behind bars.
A former agent of the United States Internal Revenue Service (IRS), Gambaryan joined Binance in 2021 and found himself entangled in accusations of money laundering and currency manipulation during a business trip to Nigeria. However, the Nigerian government eventually dropped all charges against him.
In a message shared with “Bloomberg News,” Gambaryan expressed that Friday marked his final day at Binance. A spokesperson for Binance praised his impactful contributions: “Tigran has left a lasting mark on Binance, as well as in his previous roles in law enforcement… We are deeply grateful for his dedication to transforming our financial crime compliance area. Thanks to his tireless efforts, the crypto industry is safer for everyone.”
Richard Teng, CEO of Binance, raised concerns about an alleged covert payment demand aimed at resolving their issues in Nigeria. Despite these challenges, Teng emphasized their commitment to integrity. Meanwhile, during his tenure with the U.S. government, Gambaryan gained recognition as the “Crypto Wizard” for his proficiency in tracking illicit transactions involving digital assets.
At Binance, Gambaryan’s primary focus revolved around bolstering anti-money laundering protocols and collaborating with global authorities on asset seizures—a crucial endeavor amid mounting international regulatory pressures facing the company.
Last week saw significant developments as the U.S. Securities and Exchange Commission (SEC) sought to halt legal proceedings against Binance. The SEC and company co-founder Changpeng Zhao jointly filed a motion on May 29th to suspend the case at District Court following earlier accusations of client fund manipulation and securities law violations.
With ongoing legal battles settled through substantial fines amounting to billions of dollars paid by Binance and Zhao individually—the latter also stepping down from CEO position—it signified a tumultuous period culminating in efforts towards compliance within the cryptocurrency sector.
As stakeholders navigate these challenges amidst evolving regulations globally—Gambaryan’s departure signals both personal transition and broader shifts within one of the world’s leading cryptocurrency exchanges.
