HomeBinanceBinance CEO Exposes $150 Million Bribe, Sparks Tensions with Nigeria's Government

Binance CEO Exposes $150 Million Bribe, Sparks Tensions with Nigeria’s Government

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Nigerian Government Officials Allegedly Demand $150 Million in Bribes from Binance Executives

The world of cryptocurrency has been rocked by scandal as Binance, the largest crypto exchange, revealed that Nigerian government officials demanded a staggering $150 million in bribes to resolve legal issues surrounding Binance executives Tigran Gambaryan and Nadeem Anjarwalla.

According to reports, Binance was pressured to make the payment in cryptocurrency within an account on its own exchange. The executives have vehemently denied making any payments to officials, insisting that the allegations are meritless and illegal.

Richard Teng, CEO of Binance Holdings, spoke out about the situation, revealing that the Nigerian government had approached Binance employees in an attempt to extract a large sum of money to settle tax evasion and money laundering charges. Despite attempts to engage with Nigerian authorities, including a meeting where criminal allegations were brought against the executives, Binance found themselves facing demands for a secret payment within 48 hours.

The situation escalated further when Binance executives Tigran Gambaryan and Nadeem Anjarwalla were arrested in February, sparking a new wave of trouble for the exchange. Anjarwalla managed to escape custody, allegedly using cryptocurrency to bribe officials and flee to Kenya. Nigerian authorities have since charged both Binance and compliance officer Tigran Gambaryan with tax evasion and money laundering, blaming cryptocurrency, particularly Binance, for the collapse of the country’s currency, the Naira.

As the situation continues to unfold, Binance CEO Richard Teng is advocating for Gambaryan’s release, emphasizing the importance of justice and corporate integrity. With Gambaryan’s trial postponed to May 17, the crypto community waits anxiously to see how this high-stakes drama will play out.

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