Binance Exec Quits Months After Nigerian Ordeal

Tigran Gambaryan, Binance’s head of financial crime compliance, has officially cut ties with the crypto exchange, just months after surviving a widely publicised imprisonment in Nigeria. In a LinkedIn post on Friday, Gambaryan announced his departure and hinted at new career aspirations within the public or mission-driven private sectors.

“I’ve done all that I can at Binance, and need to refocus my time and efforts towards new challenges,” he wrote.

His exit comes after four years of service at Binance, during which he spearheaded the crypto exchange’s effort to align more closely with global law enforcement protocols. A former IRS agent, Gambaryan built a 100-member team made up of ex-federal agents, prosecutors, and security professionals. During his tenure, the platform responded to over 57,000 law enforcement requests, he revealed.

Leadership Exodus Continues at Binance

Gambaryan’s resignation adds to a growing list of leadership changes at Binance, the world’s largest crypto trading platform by volume. Since late 2023, at least 16 senior executives have left, including founder Changpeng “CZ” Zhao, who stepped down following a plea deal with U.S. authorities over violations involving money laundering and international sanctions. Others who departed around the same time include ex-chief strategy officer Patrick Hillmann and former compliance vice president Steven Christie.

The wave of departures followed the appointment of Richard Teng as Binance’s CEO. Teng, a former regulator, has ushered in a more formal corporate culture, steering the company away from its early reputation of operating in regulatory grey zones.

After Nigeria, What’s Next for Gambaryan?

Gambaryan made international headlines earlier this year after he was detained by Nigerian authorities for eight months over allegations connected to Binance’s operations in the country. His health declined during the period, prompting global concern and eventually leading to his release.

Since then, he has represented Binance at industry conferences, sharing insights into his ordeal and reaffirming his commitment to enforcement and compliance within the tech space.

“There’s a growing need for trusted, experienced operators, people who understand how to translate between technology, enforcement, and compliance,” he said. “That’s where I intend to continue making a difference.”