Cointime

Download App
iOS & Android

Biden pressured to intervene in US citizens detention by Nigeria

Validated Media

The administration of United States President Joe Biden is under increasing pressure to promptly aid the release of Tigran Gambaryan, a Binance executive and former U.S. federal agent, and another Binance executive, Nadeem Anjarwalla, who the Nigerian government have detained without passports since Feb. 26, 2024.

The U.S. Chamber of Digital Commerce made its appeal through a blog post on its website on March 15 and is leading the demand for urgent diplomatic action to address what it perceives as a significant injustice.

According to the post, the detention of Gambaryan in such questionable circumstances establishes a troubling precedent, suggesting that any American entrepreneur abroad, especially those in the cryptocurrency industry, could face similar unlawful actions by foreign authorities. The blog post stated:

“The unwarranted detention of Tigran Gambaryan is more than a legal issue; it is a matter of national dignity and the protection of American citizens worldwide.”

The Chamber of Digital Commerce believes that Gambaryan’s detention is arbitrary, without due process, and presents a significant challenge to international law norms and diplomatic relations. 

  Source: United States Chamber of Commerce on X

Nigeria, a beneficiary of over $1 billion of U.S. foreign aid each year, is an ally of the United States. Initial reports about the apprehensions of Gambaryan and Anjarwalla emerged in late February, with the Financial Times covering the detentions without explicitly naming executives.

According to their families, Gambaryan and Anjarwalla — a dual citizen of the United Kingdom and Kenya — arrived in Abuja on Feb. 25. They came to Nigeria in response to an invitation from the government to discuss the ongoing dispute with Binance regarding its allegedly illegal activities there.

The executives purportedly met with Nigerian officials the following day to address the government’s directive for the country’s telecom providers to restrict access to Binance and other cryptocurrency exchanges. Officials attributed the devaluation of Nigeria’s official currency, the naira, and the facilitation of “illicit flows” of funds to crypto exchanges.

However, rather than reaching a consensus, Gambaryan and Anjarwalla were escorted to their hotels shortly after meeting with Nigerian officials. They were instructed to gather their belongings and transported to a “guesthouse” managed by Nigeria’s National Security Agency, according to their families.

The arrests of Gambaryan and Anjarwalla came a few days before Binance officially announced its exit from Nigeria on March 5.

Comments

All Comments

Recommended for you

  • BTC Briefly Drops Below $60,000

    Market data shows that BTC briefly dropped below $60,000, currently recovering to $61,290.9, with a 24-hour decline of 3.5%. The market is experiencing significant volatility, so please ensure proper risk management.

  • Yili Hua: US Stocks Correct as Expected, Decline Faster Than Anticipated

    On June 5, Liquid Capital (formerly LD Capital) founder Yili Hua stated, "As we anticipated, US stocks have begun to correct, and expectations for interest rate cuts have changed. Trading is always the most challenging task; getting it right ten times and wrong once can lead to problems. It is essential to remain cautious and manage risks. The speed of this decline following the rebound has far exceeded expectations. However, it also comes with greater opportunities; historically, bear markets have been the time to make money, while bull markets often lead to losses."

  • Fed's Harker: Maintaining Stable Rates is Reasonable for Now

    On June 5, Fed's Harker stated that it may soon be time to adjust interest rates. Given the uncertainty, maintaining stable rates is reasonable at this time.

  • President Trump: Recent Employment Report is Strong, Stock Market Should Rise, Not Fall

    On June 5, U.S. President Trump stated that the recently released employment report is very strong, and the stock market should rise, not fall. This has been the case for the past 200 years. Economic growth does not mean inflation!

  • SpaceX's Initial IPO Oversubscribed

    On June 5, according to media reports, the number of subscriptions attracted by SpaceX's initial public offering (IPO) exceeded the number of shares available.

  • Strong U.S. Labor Market, but Consumers May Worry About Negative Real Wage Growth

    On June 5, Brent Schutte, Chief Investment Officer of Northwestern Mutual Wealth Management, stated that the U.S. labor market has moved away from the weak and limited growth experienced in 2025, showing signs of recovery and broader expansion. In 2025, the non-cyclical healthcare and social assistance sectors contributed to all job growth. The diffusion index, which had been below 50 for nine months in 2025, has rebounded to above 50 in the last five months, reaching 54.4 in May. The good news for consumers is that the labor market is strong and employment is stable. However, concerns about future spending arise as real wages are experiencing negative growth, with average hourly earnings up 3.4% year-on-year and inflation at 3.8%. The Federal Reserve may lean towards a wait-and-see approach, but its focus is likely to shift towards the inflation aspects of monetary policy.

  • Nasdaq China Golden Dragon Index Falls by 2%

    The Nasdaq China Golden Dragon Index has declined by 2%, with Baidu (BIDU.O) dropping nearly 7%, NIO (NIO.N) and Xpeng Motors (XPEV.N) falling over 3%, and Alibaba (BABA.N) decreasing by 1.3%.

  • Spot Silver Falls Below $70/Ounce; Spot Gold Drops Over $100 in a Day

    On June 5, spot silver fell below $70 per ounce for the first time since April 7, with a daily decline of 5.4%. Spot gold also dropped over $100 in a day, currently priced at $4,375.35 per ounce, reflecting a decrease of 2.24%.

  • US Optical Communication Stocks Plummet, Mavenir Technologies Drops Over 8%

    On June 5, US optical communication concept stocks collectively declined, with Mavenir Technologies and Nokia falling over 8%, Ciena and Coherent dropping over 7%, Corning decreasing over 6%, and Lumentum falling over 4%.

  • Cryptocurrency Total Market Cap Falls Below $2.2 Trillion

    On June 5, data from CoinGecko shows that the current total market cap of cryptocurrencies is $2.181 trillion, with a 24-hour decline of 5.0%. Bitcoin accounts for 55.8% of the market cap, while Ethereum accounts for 8.95%.