Tigran Gambaryan, a Binance executive detained in Nigeria since April on money laundering charges, has been released after the Nigerian government dropped all charges. The case, which drew international attention and criticism, reflects the complex relationship between Nigeria and the cryptocurrency industry.
Shytoshi Kusama, the enigmatic lead developer behind the Shiba Inu cryptocurrency, has expressed his approval of the United Arab Emirates’ (UAE) decision to exempt cryptocurrency transactions from value-added tax (VAT). The move has been seen as a major step forward for the UAE’s position as a cryptocurrency-friendly hub, particularly in light of other recent regulatory advancements.
Changpeng Zhao, the founder and former CEO of Binance, has been released from prison after serving a four-month sentence for anti-money laundering violations. In a tweet, he expressed gratitude for his supporters and outlined his plans for the future, including a continued focus on blockchain technology and education.
Dogwifhat (WIF) has surged 26% in the past week, following its rival Shiba Inu (SHIB). A major WIF holder borrowed $2 million USDC to buy 894,854 WIF, boosting their holdings to $71 million. Meanwhile, Binance users have been buying WIF, leading to outflows from the exchange. Traders are bullish on the token, with some predicting a repeat of its February surge.
Neiro, a dog-themed meme coin, is experiencing a surge in popularity following its listing on Binance Futures. Traders are buzzing about its potential, citing high trading volume and significant investment from market makers like Wintermute. Experts predict that Neiro could replicate the success of Dogecoin and Shiba Inu, potentially reaching a billion-dollar valuation.
Tigran Gambaryan, Binance’s head of financial compliance, has been detained in Nigeria since earlier this year under controversial circumstances. His health has been steadily worsening, prompting his lawyer to file a new bail application on medical grounds. The bail hearing has been postponed to October 9th, with Gambaryan’s family expressing deep concern over his condition and the Nigerian authorities’ handling of the case. The situation highlights the complex regulatory landscape surrounding cryptocurrency in Nigeria and has drawn attention to the need for urgent medical care and potential diplomatic intervention.
Tigran Gambaryan, a Binance executive detained in Nigeria, has been denied bail and is facing serious health issues while in prison. He was seen struggling to walk in court and has been diagnosed with malaria, pneumonia, and complications from a herniated disc. His legal team is appealing for his release on medical grounds, while the U.S. government has yet to comment on the situation.
Binance CEO Richard Teng denied allegations that the cryptocurrency exchange seized funds from Palestinian users, claiming only accounts linked to illicit funds were blocked. This statement, however, met with skepticism and accusations of capitulating to Israeli authorities, reigniting debates about the centralization of cryptocurrency exchanges.
Max Keiser, a prominent Bitcoin advocate, expressed regret that Palestine didn’t adopt Bitcoin as legal tender in 2013. He believes this decision could have led to significant economic benefits for the nation. Keiser’s comments come amid controversy surrounding Binance’s alleged freezing of Palestinian accounts.
Binance, the world’s largest cryptocurrency exchange, is facing accusations of seizing Palestinian cryptocurrency funds at the behest of Israel. Paxful co-founder Ray Youssef claims Binance acted on a directive from the Israeli Defense Forces, potentially impacting all Palestinians. Binance denies the claims, stating only a small number of accounts linked to illicit funding were restricted. This controversy follows a $4.3 billion fine Binance received for failing to comply with U.S. anti-money laundering laws and a lawsuit from families affected by a Hamas attack accusing Binance of aiding terrorists.
