On Friday, Tigran Gambaryan, Binance’s Head of Financial Crime Compliance, announced his departure from the world’s largest cryptocurrency exchange after a four-year tenure in the company including months-long incarceration in Nigeria over economic sabotage charges that were later dropped.
In his message posted on the social media platform X, Gambaryan reflected on his journey, noting the advancement of Binance’s compliance framework and his team’s role in shaping the exchange’s relationship with global law enforcement.
Binance ex-executive thanks Changpeng Zhao for his support
When he joined Binance in 2021, the exchange, like most in the crypto industry, lacked a dedicated investigations team. However, he credited Changpeng Zhao (CZ), co-founder and former CEO of the firm, for his commitment to bringing in experienced leadership to strengthen Binance’s engagement with regulators and law enforcement.
“When I joined, Binance, like most crypto exchanges at the time, didn’t have an investigations team. But it did have a founder, Changpeng Zhao, who was committed to bringing in experienced leadership to help the company engage more constructively with law enforcement,” Gambaryan wrote.
RelatedPosts
Under his leadership, Binance’s financial crime compliance division grew into a 150-strong team of former federal agents, prosecutors, and analysts. Their work aligned the exchange with U.S. and international enforcement standards, while also training thousands of law enforcement officials worldwide.
“Over the past four years, I built and led Binance’s first global investigations function… Together, we helped align Binance more closely with U.S. and international enforcement standards,” he noted.
Furthermore, his tenure was marked by high-profile cases that underscored Binance’s growing role in combating financial crime. In his message, he noted key operations, including assisting the Royal Thai Police in dismantling a $270 million crypto fraud network and disrupting ISIS-linked terror financing.
“Some cases I’ll never forget include assisting the Royal Thai Police in dismantling a $270m crypto fraud network… and identifying ISIS-linked wallets funding international terror operations,” he shared.
In Africa, his team collaborated closely with Nigeria’s Economic and Financial Crimes Commission (EFCC), recovering over $400,000 in illicit funds and training more than 70 agents in blockchain investigations.
“Supporting Nigeria’s EFCC in recovering over $400,000 in illicit funds and training more than 70 of their agents in advanced blockchain investigations,” he remarked.
Nigeria’s ordeal and humanitarian release
Gambaryan’s departure follows a challenging period in Nigeria, where he and another Binance executive, Nadeem Anjarwalla, faced legal battles earlier in 2024.
Although the Federal Inland Revenue Service (FIRS) dropped tax charges in June 2024, the EFCC maintained money laundering allegations until October 2024, when they were withdrawn on humanitarian grounds due to the executive’s deteriorating health.
After his release, Gambaryan returned to the U.S. for medical treatment. Even as the charges against him were dropped, Binance Holdings Limited remains under scrutiny in Nigeria, with its services still restricted in the country.
As he steps away from Binance, the official signalled his intent to remain a key player at the intersection of digital assets, compliance, and national security.
“As digital assets increasingly converge with traditional finance and national security, there’s a growing need for trusted, experienced operators… That’s where I intend to continue making a difference,” he stated.
He expressed gratitude to the government and law enforcement partners who supported him during his ordeal in Nigeria, emphasising his readiness for future challenges.
“To those in government, law enforcement, and financial services who stood by me and my family this past year… thank you. Your support meant everything.”